Jackson Square Partners LLC Sells 4,503 Shares of SBA Communications Corporation $SBAC

Jackson Square Partners LLC lowered its stake in SBA Communications Corporation (NASDAQ:SBAC) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,850 shares of the technology company’s stock after selling 4,503 shares during the period. SBA Communications accounts for 2.8% of Jackson Square Partners LLC’s holdings, making the stock its 10th biggest position. Jackson Square Partners LLC’s holdings in SBA Communications were worth $6,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares during the period. MAI Capital Management boosted its holdings in shares of SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock valued at $160,000 after acquiring an additional 50 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of SBA Communications by 12.5% in the second quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after acquiring an additional 65 shares during the period. CVA Family Office LLC raised its holdings in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in SBA Communications by 4.6% during the second quarter. J.W. Cole Advisors Inc. now owns 1,532 shares of the technology company’s stock valued at $360,000 after purchasing an additional 68 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Wells Fargo & Company dropped their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 16th. UBS Group decreased their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. Barclays dropped their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.18.

SBA Communications Trading Up 0.1%

Shares of SBA Communications stock opened at $180.74 on Friday. SBA Communications Corporation has a twelve month low of $177.49 and a twelve month high of $245.16. The firm has a market capitalization of $19.26 billion, a PE ratio of 23.56, a P/E/G ratio of 1.71 and a beta of 0.87. The firm’s 50-day moving average price is $188.56 and its 200 day moving average price is $198.17.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.