Deutsche Bank AG boosted its stake in shares of Silver Spring Networks Inc (NYSE:SSNI) by 145.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,640,767 shares of the technology company’s stock after purchasing an additional 1,565,606 shares during the period. Deutsche Bank AG owned approximately 4.88% of Silver Spring Networks worth $42,884,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new position in Silver Spring Networks in the 4th quarter valued at about $6,976,000. Gardner Lewis Asset Management L P purchased a new position in Silver Spring Networks in the 4th quarter worth approximately $3,213,000. Renaissance Technologies LLC lifted its stake in Silver Spring Networks by 83.1% in the 4th quarter. Renaissance Technologies LLC now owns 747,600 shares of the technology company’s stock worth $12,141,000 after purchasing an additional 339,198 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Silver Spring Networks in the 4th quarter worth approximately $756,000. Finally, Kennedy Capital Management Inc. purchased a new position in Silver Spring Networks in the 4th quarter worth approximately $13,913,000. 75.53% of the stock is currently owned by institutional investors and hedge funds.
NYSE SSNI traded up $0.02 during trading on Friday, reaching $16.26. The company’s stock had a trading volume of 60,308 shares, compared to its average volume of 559,125. Silver Spring Networks Inc has a twelve month low of $9.68 and a twelve month high of $16.26.
SSNI has been the subject of a number of recent analyst reports. B. Riley set a $16.00 target price on shares of Silver Spring Networks and gave the company a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Guggenheim reissued a “hold” rating on shares of Silver Spring Networks in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.05.
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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.
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