Silver Spring Networks, Inc. (NYSE:SSNI) has been given an average rating of “Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.00.

SSNI has been the subject of a number of research analyst reports. Williams Capital lowered Silver Spring Networks from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Monday, March 13th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $14.00 price target (down from $17.00) on shares of Silver Spring Networks in a report on Friday, May 12th. Williams Financial Group lowered Silver Spring Networks from a “buy” rating to a “hold” rating in a report on Monday, March 13th. FBR & Co reiterated an “outperform” rating and set a $17.00 price target on shares of Silver Spring Networks in a report on Tuesday, March 28th. Finally, Benchmark Co. initiated coverage on Silver Spring Networks in a report on Tuesday, April 25th. They set a “hold” rating for the company.

Shares of Silver Spring Networks (SSNI) opened at 11.26 on Friday. The company has a 50 day moving average of $10.47 and a 200-day moving average of $11.74. Silver Spring Networks has a 52 week low of $9.68 and a 52 week high of $15.40. The company’s market cap is $598.72 million.

In other news, insider Raj Vaswani sold 29,826 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $9.87, for a total transaction of $294,382.62. Following the sale, the insider now owns 611,947 shares in the company, valued at $6,039,916.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 75,968 shares of company stock valued at $785,370 over the last quarter. Corporate insiders own 29.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC boosted its position in Silver Spring Networks by 11.4% in the first quarter. Perigon Wealth Management LLC now owns 27,347 shares of the technology company’s stock valued at $309,000 after buying an additional 2,798 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Silver Spring Networks by 231.3% in the first quarter. Goldman Sachs Group Inc. now owns 70,302 shares of the technology company’s stock valued at $794,000 after buying an additional 49,080 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Silver Spring Networks by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 145,138 shares of the technology company’s stock valued at $1,639,000 after buying an additional 8,190 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Silver Spring Networks by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 886,065 shares of the technology company’s stock valued at $10,004,000 after buying an additional 112,428 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Silver Spring Networks by 14.5% in the first quarter. Geode Capital Management LLC now owns 305,422 shares of the technology company’s stock valued at $3,448,000 after buying an additional 38,626 shares during the last quarter. Institutional investors and hedge funds own 76.30% of the company’s stock.

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Silver Spring Networks Company Profile

Silver Spring Networks, Inc is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Company provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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