Silver Spring Networks, Inc. (NYSE:SSNI) Stake Raised by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in Silver Spring Networks, Inc. (NYSE:SSNI) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,691 shares of the technology company’s stock after purchasing an additional 14,458 shares during the quarter. First Trust Advisors LP owned 0.25% of Silver Spring Networks worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in shares of Silver Spring Networks in the third quarter worth $162,000. Legal & General Group Plc grew its holdings in Silver Spring Networks by 10.8% during the second 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 period. Oppenheimer & Co. Inc. bought a new stake in Silver Spring Networks during the second quarter valued at about $117,000. Stifel Financial Corp grew its holdings in Silver Spring Networks by 19.3% during the second quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after purchasing an additional 2,285 shares during the period. Finally, Trexquant Investment LP bought a new stake in Silver Spring Networks during the second quarter valued at about $171,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

In other Silver Spring Networks news, COO Aysegul Ildeniz sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $16.16, for a total transaction of $242,400.00. Following the sale, the chief operating officer now directly owns 11,277 shares in the company, valued at $182,236.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Raj Vaswani sold 15,688 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $16.08, for a total value of $252,263.04. Following the sale, the insider now owns 107,472 shares in the company, valued at $1,728,149.76. The disclosure for this sale can be found here. Insiders sold 163,133 shares of company stock worth $2,631,571 over the last quarter. 25.20% of the stock is owned by company insiders.

Silver Spring Networks, Inc. (SSNI) traded down $0.04 during trading hours on Tuesday, hitting $16.04. The company had a trading volume of 777,400 shares, compared to its average volume of 618,583. Silver Spring Networks, Inc. has a 12 month low of $9.68 and a 12 month high of $16.24.

SSNI has been the subject of several recent research reports. FBR & Co reissued a “buy” rating on shares of Silver Spring Networks in a report on Monday, September 11th. BidaskClub lowered Silver Spring Networks from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $11.00 price objective (up previously from $9.00) on shares of Silver Spring Networks in a research note on Friday, September 8th. Oppenheimer reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Silver Spring Networks in a research note on Monday, September 18th. Finally, JMP Securities lowered Silver Spring Networks to a “market perform” rating in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.95.

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Silver Spring Networks Profile

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.

Institutional Ownership by Quarter for Silver Spring Networks (NYSE:SSNI)

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