Silver Spring Networks (SSNI) Rating Reiterated by Guggenheim

Silver Spring Networks (NYSE:SSNI)‘s stock had its “hold” rating reiterated by investment analysts at Guggenheim in a research note issued on Friday.

Several other research firms have also recently issued reports on SSNI. Oppenheimer reaffirmed a “buy” rating and set a $14.00 price target on shares of Silver Spring Networks in a research note on Monday, September 18th. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the stock a “hold” rating in a research note on Thursday, January 4th. FBR & Co cut shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Friday, September 22nd. BidaskClub raised shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, Raymond James Financial reaffirmed a “market perform” rating and set a $16.25 price target on shares of Silver Spring Networks in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Silver Spring Networks currently has an average rating of “Hold” and an average price target of $14.96.

Shares of Silver Spring Networks (NYSE SSNI) opened at $16.26 on Friday. Silver Spring Networks has a 12 month low of $9.68 and a 12 month high of $16.26. The stock has a market cap of $880.35, a PE ratio of -19.59 and a beta of 1.60.

In related news, COO Aysegul Ildeniz sold 16,189 shares of the firm’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 sale, the chief operating officer now directly owns 19,664 shares of the company’s stock, valued at $317,180.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Bell sold 140,230 shares of the firm’s stock in a transaction that occurred 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 directly owns 208,068 shares in the company, valued at $3,376,943.64. The disclosure for this sale can be found here. Insiders sold 359,521 shares of company stock worth $5,820,088 over the last three months. Corporate insiders own 25.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Silver Spring Networks in the second quarter worth approximately $117,000. 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 buying an additional 1,005 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Silver Spring Networks during the third quarter valued at approximately $162,000. Stifel Financial Corp lifted its position in Silver Spring Networks by 19.3% during the second 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 Silver Spring Networks during the third quarter valued at approximately $200,000. 75.53% of the stock is currently owned by institutional investors and hedge funds.

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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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