SBA Communications Co. (SBAC) Shares Bought by Daiwa Securities Group Inc.

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Daiwa Securities Group Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 18,340.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,885 shares of the technology company’s stock after purchasing an additional 758,748 shares during the period. Daiwa Securities Group Inc. owned about 0.67% of SBA Communications worth $123,503,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SBAC. Capital Research Global Investors increased its holdings in SBA Communications by 98.5% during the 3rd quarter. Capital Research Global Investors now owns 1,369,807 shares of the technology company’s stock valued at $220,032,000 after purchasing an additional 679,663 shares during the period. Commonwealth Bank of Australia increased its holdings in SBA Communications by 330,152.8% during the 3rd quarter. Commonwealth Bank of Australia now owns 531,707 shares of the technology company’s stock valued at $85,078,000 after purchasing an additional 531,546 shares during the period. Cohen & Steers Inc. increased its holdings in SBA Communications by 225.0% during the 3rd quarter. Cohen & Steers Inc. now owns 688,563 shares of the technology company’s stock valued at $110,604,000 after purchasing an additional 476,722 shares during the period. Vanguard Group Inc increased its holdings in SBA Communications by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after purchasing an additional 380,936 shares during the period. Finally, Vanguard Group Inc. increased its holdings in SBA Communications by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after purchasing an additional 380,936 shares during the period. Institutional investors own 94.07% of the company’s stock.

A number of brokerages recently issued reports on SBAC. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 11th. Zacks Investment Research upgraded SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a report on Thursday, November 15th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Guggenheim set a $180.00 target price on SBA Communications and gave the stock a “buy” rating in a report on Wednesday, October 17th. Finally, Citigroup upped their target price on SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $181.22.

In related news, CFO Brendan Thomas Cavanagh sold 140,017 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $172.12, for a total value of $24,099,726.04. Following the transaction, the chief financial officer now directly owns 81,810 shares of the company’s stock, valued at approximately $14,081,137.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Hunt sold 79,908 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $172.47, for a total value of $13,781,732.76. Following the completion of the transaction, the vice president now directly owns 133,652 shares in the company, valued at $23,050,960.44. The disclosure for this sale can be found here. Insiders sold a total of 406,060 shares of company stock worth $69,939,407 over the last ninety days. 2.70% of the stock is currently owned by insiders.

SBAC stock opened at $183.22 on Monday. SBA Communications Co. has a 12-month low of $146.13 and a 12-month high of $184.74.

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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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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