Brokerages Set Silver Spring Networks Inc (SSNI) PT at $14.58

Silver Spring Networks Inc (NYSE:SSNI) has earned an average rating of “Hold” from the eighteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $14.58.

SSNI has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, January 2nd. Guggenheim reiterated a “hold” rating on shares of Silver Spring Networks in a report on Friday, January 12th. B. Riley set a $16.00 target price on shares of Silver Spring Networks and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, BidaskClub cut shares of Silver Spring Networks from a “hold” rating to a “sell” rating in a report on Monday, October 23rd.

Shares of Silver Spring Networks (NYSE SSNI) traded up $0.02 during trading on Friday, reaching $16.26. 60,300 shares of the company’s stock traded hands, compared to its average volume of 559,125. Silver Spring Networks has a one year low of $9.68 and a one year high of $16.26. The company has a market cap of $880.35, a PE ratio of -19.59 and a beta of 1.60.

In other news, insider Theresa Stynes sold 17,618 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $16.23, for a total value of $285,940.14. Following the sale, the insider now directly owns 24,519 shares in the company, valued at approximately $397,943.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Bell sold 140,230 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total transaction of $2,275,932.90. Following the completion of the transaction, the chief executive officer now directly owns 208,068 shares of the company’s stock, valued at $3,376,943.64. The disclosure for this sale can be found here. Insiders sold a total of 288,117 shares of company stock worth $4,669,524 over the last 90 days. Company insiders own 25.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in SSNI. Schwab Charles Investment Management Inc. raised its position in shares of Silver Spring Networks by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 146,434 shares of the technology company’s stock valued at $1,652,000 after purchasing an additional 1,296 shares during the last quarter. Legal & General Group Plc raised its position in shares of Silver Spring Networks by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after purchasing an additional 1,005 shares during the last quarter. Swiss National Bank raised its position in shares of Silver Spring Networks by 14.2% in the 2nd quarter. Swiss National Bank now owns 66,600 shares of the technology company’s stock valued at $751,000 after purchasing an additional 8,300 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Silver Spring Networks by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 43,300 shares of the technology company’s stock valued at $488,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Silver Spring Networks by 24.8% in the 2nd quarter. Teachers Advisors LLC now owns 78,270 shares of the technology company’s stock valued at $883,000 after purchasing an additional 15,578 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

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About Silver Spring Networks

Silver Spring Networks, Inc is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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