Silver Spring Networks, Inc. (NYSE:SSNI) insider Theresa Stynes sold 46,886 shares of Silver Spring Networks stock in a transaction on Friday, November 10th. The shares were sold at an average price of $16.11, for a total value of $755,333.46. Following the transaction, the insider now owns 23,749 shares in the company, valued at $382,596.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Silver Spring Networks, Inc. (NYSE:SSNI) traded down $0.01 on Tuesday, hitting $16.11. The stock had a trading volume of 813,800 shares, compared to its average volume of 600,252. Silver Spring Networks, Inc. has a 1 year low of $9.68 and a 1 year high of $16.24.
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Several equities analysts have recently commented on the company. Oppenheimer Holdings, Inc. set a $14.00 price objective on Silver Spring Networks and gave the company a “buy” rating in a research report on Wednesday, August 9th. Williams Capital lifted their target price on Silver Spring Networks from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and issued a $16.00 target price (down from $17.00) on shares of Silver Spring Networks in a report on Thursday, August 10th. Canaccord Genuity lifted their target price on Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a report on Monday, August 14th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $11.00 target price (up from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Silver Spring Networks currently has a consensus rating of “Hold” and a consensus target price of $14.95.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SSNI. Legal & General Group Plc boosted its holdings in shares of 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 valued at $117,000 after purchasing an additional 1,005 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Silver Spring Networks in the second quarter valued at approximately $117,000. Stifel Financial Corp boosted its holdings in shares of Silver Spring Networks by 19.3% in 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. Longfellow Investment Management Co. LLC purchased a new stake in shares of Silver Spring Networks in the third quarter valued at approximately $162,000. Finally, Trexquant Investment LP purchased a new stake in Silver Spring Networks during the second quarter worth $171,000. 78.52% of the stock is currently owned by hedge funds and other institutional investors.
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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