Richard S. Jr. Arnold Sells 68,541 Shares of Silver Spring Networks Inc (SSNI) Stock

Silver Spring Networks Inc (NYSE:SSNI) General Counsel Richard S. Jr. Arnold sold 68,541 shares of Silver Spring Networks stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $16.24, for a total transaction of $1,113,105.84. Following the transaction, the general counsel now directly owns 47,051 shares of the company’s stock, valued at $764,108.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Silver Spring Networks Inc (NYSE SSNI) opened at $16.22 on Thursday. Silver Spring Networks Inc has a 1-year low of $9.68 and a 1-year high of $16.24.

Several brokerages recently commented on SSNI. JMP Securities lowered shares of Silver Spring Networks to a “market perform” rating in a report on Tuesday, September 19th. Raymond James Financial lowered shares of Silver Spring Networks from a “strong-buy” rating to a “mkt perform” rating in a report on Wednesday, September 20th. ValuEngine raised shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub lowered shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. Finally, Canaccord Genuity boosted their price target on shares of Silver Spring Networks from $11.50 to $16.25 and gave the stock a “hold” rating in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.95.

Several institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its holdings in shares of Silver Spring Networks by 7.3% during the second quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock worth $32,626,000 after buying an additional 197,957 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Silver Spring Networks during the 3rd quarter valued at about $31,789,000. Vanguard Group Inc. boosted its position in shares of Silver Spring Networks by 7.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,742,571 shares of the technology company’s stock valued at $19,656,000 after acquiring an additional 123,420 shares during the last quarter. Trigran Investments Inc. boosted its position in shares of Silver Spring Networks by 2.5% during the 3rd quarter. Trigran Investments Inc. now owns 1,491,592 shares of the technology company’s stock valued at $24,119,000 after acquiring an additional 36,206 shares during the last quarter. Finally, Ardsley Advisory Partners boosted its position in shares of Silver Spring Networks by 232.6% during the 2nd quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock valued at $14,264,000 after acquiring an additional 884,000 shares during the last quarter. 76.05% of the stock is owned by institutional investors and hedge funds.

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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.

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