Schwab Charles Investment Management Inc. boosted its stake in shares of Silver Spring Networks Inc (NYSE:SSNI) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 172,609 shares of the technology company’s stock after buying an additional 26,175 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Silver Spring Networks were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in shares of Silver Spring Networks in the 2nd quarter valued at $117,000. Legal & General Group Plc raised its stake in shares of Silver Spring Networks by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after buying an additional 1,005 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Silver Spring Networks in the 3rd quarter valued at $162,000. Stifel Financial Corp raised its stake in shares of Silver Spring Networks by 19.3% in the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after buying an additional 2,285 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Silver Spring Networks in the 3rd quarter valued at $200,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Shares of Silver Spring Networks Inc (NYSE SSNI) opened at $16.26 on Wednesday. Silver Spring Networks Inc has a fifty-two week low of $9.68 and a fifty-two week high of $16.26. The firm has a market cap of $880.35, a PE 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. equities analysts predict that Silver Spring Networks Inc will post -0.34 earnings per share for the current year.
In other Silver Spring Networks news, insider Raj Vaswani sold 14,273 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $16.07, for a total transaction of $229,367.11. Following the sale, the insider now owns 106,057 shares of the company’s stock, valued at approximately $1,704,335.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Richard S. Jr. Arnold sold 68,541 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $16.24, for a total transaction of $1,113,105.84. Following the sale, the general counsel now directly owns 47,051 shares in the company, valued at approximately $764,108.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 359,521 shares of company stock worth $5,820,088. Insiders own 25.20% of the company’s stock.
A number of equities analysts have recently issued reports on SSNI shares. Zacks Investment Research upgraded shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, January 2nd. Guggenheim reaffirmed a “hold” rating on shares of Silver Spring Networks in a report on Friday, January 12th. B. Riley set a $16.00 target price on shares of Silver Spring Networks and gave the stock a “hold” rating in a report on Thursday, January 4th. BidaskClub raised shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Canaccord Genuity upped their target price 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 equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.96.
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.
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