Wells Fargo & Company MN Boosts Holdings in SBA Communications Co. (SBAC)

Wells Fargo & Company MN grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 15.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,315,958 shares of the technology company’s stock after buying an additional 173,146 shares during the quarter. Wells Fargo & Company MN’s holdings in SBA Communications were worth $214,975,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SBAC. American Century Companies Inc. grew its stake in shares of SBA Communications by 14.4% during the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock worth $367,734,000 after purchasing an additional 322,085 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SBA Communications by 70.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock worth $168,105,000 after purchasing an additional 480,852 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of SBA Communications by 88.9% during the third quarter. Ameriprise Financial Inc. now owns 1,070,110 shares of the technology company’s stock worth $154,151,000 after purchasing an additional 503,526 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 79.2% during the third quarter. JPMorgan Chase & Co. now owns 938,873 shares of the technology company’s stock worth $134,971,000 after purchasing an additional 415,078 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of SBA Communications by 10.6% during the third quarter. Legal & General Group Plc now owns 904,168 shares of the technology company’s stock worth $130,245,000 after purchasing an additional 86,537 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company’s stock.

Shares of SBA Communications Co. (SBAC) opened at $169.12 on Friday. SBA Communications Co. has a 1-year low of $107.30 and a 1-year high of $177.67. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The company has a market cap of $19,878.70, a PE ratio of 211.40 and a beta of 0.85.

SBAC has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. BidaskClub cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. KeyCorp reissued a “buy” rating and issued a $179.00 price target (up from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. Cowen reissued a “buy” rating and issued a $170.00 price target (up from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $200.00 price target on shares of SBA Communications in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $165.07.

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SBA Communications Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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

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