Insider Selling: Thomas R. Kuhn Unloads 1,000 Shares of Silver Spring Networks Stock (SSNI)
Silver Spring Networks (NASDAQ:SSNI) Director Thomas R. Kuhn sold 1,000 shares of Silver Spring Networks stock on the open market in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.62, for a total transaction of $17,620.00. Following the sale, the director now directly owns 18,763 shares of the company’s stock, valued at approximately $330,604. The sale was disclosed in a document filed with the SEC, which is available at this link.
Silver Spring Networks (NASDAQ:SSNI) traded down 4.06% on Thursday, hitting $16.31. The stock had a trading volume of 701,234 shares. Silver Spring Networks has a 1-year low of $14.63 and a 1-year high of $33.82. The stock’s 50-day moving average is $20.64 and its 200-day moving average is $20.8. The company’s market cap is $768.7 million.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Silver Spring Networks from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday. They now have a $16.20 price target on the stock. Separately, analysts at Credit Suisse downgraded shares of Silver Spring Networks from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, January 17th. They now have a $23.00 price target on the stock, down previously from $26.00. Finally, analysts at Stifel Nicolaus cut their price target on shares of Silver Spring Networks from $30.00 to $25.00 in a research note to investors on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.58.
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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