Silver Spring Networks VP Carrie Kalinowski Unloads 8,171 Shares (SSNI)
Silver Spring Networks (NASDAQ:SSNI) VP Carrie Kalinowski sold 8,171 shares of Silver Spring Networks stock on the open market in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $16.51, for a total transaction of $134,903.21. Following the transaction, the vice president now directly owns 13,928 shares of the company’s stock, valued at approximately $229,951. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on SSNI. Analysts at Goldman Sachs Group Inc. upgraded shares of Silver Spring Networks from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 25th. They now have a $26.00 price target on the stock. Separately, analysts at Evercore Partners initiated coverage on shares of Silver Spring Networks in a research note to investors on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Finally, analysts at Canaccord Genuity set a $25.00 price target on shares of Silver Spring Networks in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.63.
Silver Spring Networks (NASDAQ:SSNI) traded down 0.78% during mid-day trading on Friday, hitting $15.26. 378,039 shares of the company’s stock traded hands. Silver Spring Networks has a 52-week low of $15.09 and a 52-week high of $33.82. The stock has a 50-day moving average of $17.77 and a 200-day moving average of $20.56. The company’s market cap is $711.8 million.
Silver Spring Networks (NASDAQ:SSNI) last issued its quarterly 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. Silver Spring Networks’s revenue was up 100.6% compared to the same quarter last year. 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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