Silver Spring Networks CEO Unloads $70,640 in Stock (SSNI)
Silver Spring Networks (NASDAQ:SSNI) CEO Scott A. Lang sold 4,000 shares of Silver Spring Networks stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the transaction, the chief executive officer now directly owns 27,703 shares of the company’s stock, valued at approximately $489,235. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SSNI shares. 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 given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.58.
Silver Spring Networks (NASDAQ:SSNI) traded down 4.06% on Thursday, hitting $16.31. 701,234 shares of the company’s stock traded hands. 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.
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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