Silver Spring Networks (SSNI) Given Hold Rating at Guggenheim

Guggenheim reissued their hold rating on shares of Silver Spring Networks (NYSE:SSNI) in a report issued on Friday.

A number of other brokerages also recently commented on SSNI. FBR & Co downgraded shares of Silver Spring Networks from a buy rating to a neutral rating and set a $16.00 target price on the stock. in a research note on Friday, September 22nd. BidaskClub downgraded shares of Silver Spring Networks from a hold rating to a sell rating in a research note on Monday, October 23rd. Oppenheimer restated a buy rating and issued a $14.00 target price on shares of Silver Spring Networks in a research note on Monday, September 18th. Raymond James Financial downgraded shares of Silver Spring Networks from a strong-buy rating to a mkt perform rating in a research note on Wednesday, September 20th. Finally, JMP Securities downgraded shares of Silver Spring Networks to a market perform rating in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $15.27.

Shares of Silver Spring Networks (SSNI) traded up $0.01 during trading hours on Friday, reaching $16.26. The company has a market cap of $880.35, a PE ratio of -19.59 and a beta of 1.60. Silver Spring Networks has a 52-week low of $9.68 and a 52-week high of $16.26.

In other news, COO Aysegul Ildeniz sold 16,189 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $16.13, for a total value of $261,128.57. Following the completion of the sale, the chief operating officer now owns 19,664 shares of the company’s stock, valued at approximately $317,180.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raj Vaswani sold 14,273 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $16.07, for a total transaction of $229,367.11. Following the completion of the sale, the insider now directly owns 106,057 shares of the company’s stock, valued at approximately $1,704,335.99. The disclosure for this sale can be found here. Insiders sold a total of 359,521 shares of company stock valued at $5,820,088 in the last ninety days. Corporate insiders own 25.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SSNI. Schwab Charles Investment Management Inc. lifted 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 worth $1,652,000 after purchasing an additional 1,296 shares during the period. First Trust Advisors LP lifted its position in shares of Silver Spring Networks by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 118,233 shares of the technology company’s stock worth $1,334,000 after purchasing an additional 9,855 shares during the period. Rhumbline Advisers lifted its position in shares of Silver Spring Networks by 18.2% in the 2nd quarter. Rhumbline Advisers now owns 48,509 shares of the technology company’s stock worth $547,000 after purchasing an additional 7,465 shares during the period. Legal & General Group Plc lifted its position 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 acquiring an additional 1,005 shares during the last quarter. Finally, Swiss National Bank lifted its position in Silver Spring Networks by 14.2% during the second quarter. Swiss National Bank now owns 66,600 shares of the technology company’s stock valued at $751,000 after acquiring an additional 8,300 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

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Silver Spring Networks Company 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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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