Silver Spring Networks EVP Unloads $26,313 in Stock (SSNI)
Silver Spring Networks (NASDAQ:SSNI) EVP Daniel Middleton sold 1,250 shares of Silver Spring Networks stock on the open market in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $21.05, for a total transaction of $26,312.50. Following the sale, the executive vice president now directly owns 30,102 shares in the company, valued at approximately $633,647. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Piper Jaffray cut their price target on shares of Silver Spring Networks from $26.00 to $20.00 in a research note to investors on Thursday, October 31st. They now have a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.88.
Shares of Silver Spring Networks (NASDAQ:SSNI) traded down 0.04% on Thursday, hitting $22.40. The stock had a trading volume of 303,534 shares. Silver Spring Networks has a 52-week low of $14.63 and a 52-week high of $33.82. The stock has a 50-day moving average of $20.65 and a 200-day moving average of $21.02. The company’s market cap is $1.056 billion.
Silver Spring Networks (NASDAQ:SSNI) last announced its earnings results on Wednesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $94.20 million for the quarter, compared to the consensus estimate of $92.47 million. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Silver Spring Networks will post $0.14 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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