XTX Topco Ltd Purchases Shares of 13,021 SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• XTX Topco Ltd has acquired a new position in SBA Communications Corporation (NASDAQ:SBAC) with 13,021 shares valued at approximately $2.87 million.
• Insider trading news includes Director Jack Langer selling 5,000 shares at an average price of $240.59, representing a 32.21% decrease in ownership.
• Analysts have set a consensus price target of $257.19 for SBA Communications, with ratings ranging from "hold" to "strong buy" among various brokerages.

XTX Topco Ltd purchased a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,021 shares of the technology company's stock, valued at approximately $2,865,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Dodge & Cox boosted its stake in SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after purchasing an additional 5,722,740 shares during the last quarter. BROOKFIELD Corp ON boosted its stake in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock valued at $202,016,000 after purchasing an additional 987,647 shares during the last quarter. Voyager Global Management LP purchased a new stake in SBA Communications during the 4th quarter valued at $95,786,000. Cohen & Steers Inc. boosted its stake in SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after purchasing an additional 432,644 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in SBA Communications by 30,393.6% during the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after purchasing an additional 369,282 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 1.0%

SBA Communications stock traded down $2.26 during trading on Thursday, reaching $224.72. The company had a trading volume of 859,194 shares, compared to its average volume of 647,893. SBA Communications Corporation has a 52 week low of $192.55 and a 52 week high of $252.64. The firm's 50-day simple moving average is $231.27 and its 200 day simple moving average is $222.38. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.88 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup increased their target price on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley increased their target price on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Scotiabank began coverage on SBA Communications in a report on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price target on the stock. Finally, BMO Capital Markets increased their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $257.19.

SBA Communications 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.