SBA Communications Corporation $SBAC Shares Sold by Amundi

Key Points

• Amundi reduced its SBA Communications stake by 15.4% in the first quarter, selling 127,030 shares and retaining 696,473 shares worth approximately $119.9 million. Institutional investors collectively own 97.35% of the company.
• SBA Communications shares opened at $180.99, near the lower end of their 52-week range of $162.41 to $234.64. The company has a market capitalization of approximately $19.2 billion and a P/E ratio of 19.05.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.28, despite some neutral and hold ratings.

Amundi decreased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 696,473 shares of the technology company's stock after selling 127,030 shares during the quarter. Amundi owned 0.66% of SBA Communications worth $119,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. increased its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after acquiring an additional 84 shares during the period. High Point Wealth Management LLC purchased a new stake in SBA Communications in the 4th quarter valued at $39,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in SBA Communications during the 4th quarter worth $39,000. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Performance

SBA Communications stock opened at $180.99 on Friday. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $234.64. The firm has a 50 day moving average price of $189.42 and a 200 day moving average price of $194.67. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.82 and a beta of 1.00.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial reissued a "buy" rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SBA Communications in a research note on Monday, July 20th. Barclays increased their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. The Goldman Sachs Group started coverage on SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 target price on the stock. Finally, Morgan Stanley upped their price target on SBA Communications from $215.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and a consensus price target of $235.28.

About SBA Communications

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.

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