Rep. Robert Bresnahan, Jr. Sells SBA Communications Co. (NASDAQ:SBAC) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of SBA Communications Co. (NASDAQ:SBAC). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in SBA Communications stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

SBA Communications Stock Performance

SBAC opened at $205.37 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company has a fifty day moving average of $203.81 and a two-hundred day moving average of $220.97. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 0.73 and a beta of 0.69.

Analysts Set New Price Targets

A number of research firms have weighed in on SBAC. Barclays cut their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen lifted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.29.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently bought and sold shares of SBAC. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications in the 4th quarter valued at about $27,000. Graney & King LLC acquired a new position in SBA Communications in the 4th quarter valued at about $29,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the 3rd quarter valued at about $35,000. Finally, Oakworth Capital Inc. boosted its holdings in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About SBA Communications

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.