IBM Retirement Fund trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,859 shares of the technology company’s stock after selling 324 shares during the quarter. IBM Retirement Fund’s holdings in SBA Communications were worth $299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highstreet Asset Management Inc. lifted its position in SBA Communications by 74.2% during the 3rd quarter. Highstreet Asset Management Inc. now owns 28,252 shares of the technology company’s stock worth $4,538,000 after acquiring an additional 12,036 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in SBA Communications by 5.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,320 shares of the technology company’s stock worth $2,621,000 after acquiring an additional 770 shares during the period. Edgestream Partners L.P. lifted its position in SBA Communications by 1,006.5% during the 3rd quarter. Edgestream Partners L.P. now owns 54,097 shares of the technology company’s stock worth $8,690,000 after acquiring an additional 49,208 shares during the period. Toronto Dominion Bank lifted its position in SBA Communications by 0.7% during the 3rd quarter. Toronto Dominion Bank now owns 74,685 shares of the technology company’s stock worth $11,994,000 after acquiring an additional 509 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in SBA Communications by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 344,996 shares of the technology company’s stock worth $55,417,000 after acquiring an additional 1,689 shares during the period. Hedge funds and other institutional investors own 93.98% of the company’s stock.

NASDAQ SBAC opened at $172.02 on Monday. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($1.64). The company had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. As a group, sell-side analysts predict that SBA Communications Co. will post 7.15 earnings per share for the current fiscal year.

In related news, EVP Jason V. Silberstein sold 19,785 shares of SBA Communications stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $165.13, for a total value of $3,267,097.05. Following the completion of the transaction, the executive vice president now owns 28,659 shares in the company, valued at approximately $4,732,460.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Stoops sold 80,000 shares of SBA Communications stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $171.10, for a total value of $13,688,000.00. Following the completion of the transaction, the chief executive officer now owns 214,943 shares of the company’s stock, valued at approximately $36,776,747.30. The disclosure for this sale can be found here. Insiders have sold a total of 188,832 shares of company stock valued at $31,071,038 in the last quarter. Company insiders own 2.70% of the company’s stock.

SBAC has been the subject of a number of research reports. BidaskClub cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Citigroup raised SBA Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $175.00 to $187.00 in a research report on Wednesday, October 31st. Bank of America set a $189.00 price target on SBA Communications and gave the stock a “buy” rating in a research report on Thursday. ValuEngine cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Finally, Zacks Investment Research upgraded SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. SBA Communications presently has an average rating of “Buy” and an average target price of $181.58.

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SBA Communications Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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