Silver Spring Networks Inc (SSNI) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its stake in shares of Silver Spring Networks Inc (NYSE:SSNI) by 17.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,609 shares of the technology company’s stock after purchasing an additional 26,175 shares during the period. Schwab Charles Investment Management Inc. owned about 0.32% of Silver Spring Networks worth $2,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SSNI. Rhumbline Advisers grew its position in Silver Spring Networks by 18.2% in the second quarter. Rhumbline Advisers now owns 48,509 shares of the technology company’s stock worth $547,000 after acquiring an additional 7,465 shares in the last quarter. Legal & General Group Plc grew its position in Silver Spring Networks by 10.8% in the second quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock worth $117,000 after acquiring an additional 1,005 shares in the last quarter. Swiss National Bank grew its position in Silver Spring Networks by 14.2% in the second quarter. Swiss National Bank now owns 66,600 shares of the technology company’s stock worth $751,000 after acquiring an additional 8,300 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Silver Spring Networks in the second quarter worth approximately $117,000. Finally, Alliancebernstein L.P. grew its position in Silver Spring Networks by 5.9% in the second quarter. Alliancebernstein L.P. now owns 43,300 shares of the technology company’s stock worth $488,000 after acquiring an additional 2,400 shares in the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on the stock. JMP Securities downgraded shares of Silver Spring Networks to a “market perform” rating in a research report on Tuesday, September 19th. Raymond James Financial downgraded shares of Silver Spring Networks from a “strong-buy” rating to a “mkt perform” rating in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, January 2nd. Guggenheim reissued a “hold” rating on shares of Silver Spring Networks in a research report on Friday, January 12th. Finally, BidaskClub downgraded shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Silver Spring Networks has a consensus rating of “Hold” and an average price target of $14.96.

In other news, insider Raj Vaswani sold 14,273 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $16.07, for a total value of $229,367.11. Following the completion of the sale, the insider now directly owns 106,057 shares in the company, valued at $1,704,335.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Bell sold 140,230 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $16.23, for a total transaction of $2,275,932.90. Following the completion of the sale, the chief executive officer now 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 359,521 shares of company stock valued at $5,820,088 over the last 90 days. 25.20% of the stock is owned by corporate insiders.

Shares of Silver Spring Networks Inc (NYSE SSNI) opened at $16.26 on Wednesday. Silver Spring Networks Inc has a one year low of $9.68 and a one year high of $16.26. The firm has a market cap of $880.35, a price-to-earnings ratio of -19.59 and a beta of 1.60.

Silver Spring Networks (NYSE:SSNI) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. equities research analysts forecast that Silver Spring Networks Inc will post -0.34 EPS for the current fiscal year.

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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.

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

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