Silver Spring Networks EVP Daniel Middleton Unloads 8,500 Shares (SSNI)
Silver Spring Networks (NASDAQ:SSNI) EVP Daniel Middleton sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $17.76, for a total value of $150,960.00. Following the transaction, the executive vice president now directly owns 30,102 shares in the company. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SSNI shares. Analysts at Evercore Partners initiated coverage on shares of Silver Spring Networks (NASDAQ:SSNI) in a research note to investors on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Separately, analysts at Canaccord Genuity set a $25.00 price target on shares of Silver Spring Networks (NASDAQ:SSNI) in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock.
Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $26.71.
Silver Spring Networks (NASDAQ:SSNI) traded down 2.57% on Wednesday, hitting $16.65. 450,582 shares of the company’s stock traded hands. Silver Spring Networks has a one year low of $15.35 and a one year high of $33.82. The stock’s 50-day moving average is $24.47 and its 200-day moving average is $21.29. The company’s market cap is $776.6 million.
Silver Spring Networks (NASDAQ:SSNI) last released its earnings data on Thursday, August 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.07. The company had revenue of $86.50 million for the quarter, compared to the consensus estimate of $79.60 million. The company’s revenue for the quarter was up 100.6% on a year-over-year basis. Analysts expect that Silver Spring Networks will post $0.13 EPS for the current fiscal year.
Silver Spring Networks, Inc, provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
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