Deutsche Bank Aktiengesellschaft Downgrades SBA Communications (NASDAQ:SBAC) to Hold

SBA Communications (NASDAQ:SBAC - Get Free Report) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $247.00 price target on the technology company's stock. Deutsche Bank Aktiengesellschaft's target price points to a potential upside of 4.88% from the company's current price.

Several other analysts also recently commented on the stock. Bank of America began coverage on shares of SBA Communications in a research report on Monday. They issued a "buy" rating and a $260.00 target price for the company. Barclays upped their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research report on Tuesday, April 29th. BMO Capital Markets lifted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.43.

SBA Communications Trading Up 1.0%

Shares of NASDAQ:SBAC opened at $235.51 on Tuesday. The firm has a market cap of $25.34 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications has a 1 year low of $185.44 and a 1 year high of $252.64. The business has a fifty day simple moving average of $224.85 and a 200 day simple moving average of $215.90.

Insider Activity

In other news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the transaction, the director now directly owns 10,522 shares of the company's stock, valued at $2,531,487.98. The trade was a 32.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Farther Finance Advisors LLC lifted its position in shares of SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in SBA Communications by 5.6% in the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock valued at $194,000 after acquiring an additional 47 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock worth $78,000 after purchasing an additional 50 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after buying an additional 50 shares during the last quarter. Finally, Auxano Advisors LLC grew its holdings in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

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.

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