Sumitomo Mitsui Trust Group Inc. Has $46.05 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,944 shares of the technology company’s stock after acquiring an additional 1,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of SBA Communications worth $46,047,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SBAC. State Street Corp grew its position in SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of SBA Communications by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after acquiring an additional 62,555 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $206.31 on Tuesday. The stock has a market capitalization of $22.18 billion, a PE ratio of 32.54, a P/E/G ratio of 0.73 and a beta of 0.69. The stock has a 50-day simple moving average of $204.93 and a 200 day simple moving average of $221.22. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBAC shares. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective on the stock. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.