Silver Spring Networks, Inc. (NYSE:SSNI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other analysts have also recently issued research reports about the company. Pacific Crest cut Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, May 10th. Benchmark Co. started coverage on Silver Spring Networks in a research report on Tuesday, April 25th. They issued a “hold” rating for the company. Oppenheimer Holdings, Inc. set a $17.00 price target on Silver Spring Networks and gave the stock a “buy” rating in a research report on Saturday, April 1st. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating on shares of Silver Spring Networks in a research report on Wednesday, June 28th. Finally, Williams Financial Group cut Silver Spring Networks from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.42.

Shares of Silver Spring Networks (NYSE:SSNI) traded down 0.10% during midday trading on Friday, hitting $10.51. The company had a trading volume of 175,041 shares. The company’s 50 day moving average is $10.47 and its 200 day moving average is $11.74. The firm’s market cap is $558.84 million. Silver Spring Networks has a one year low of $9.68 and a one year high of $15.40.

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In related news, insider Raj Vaswani sold 20,364 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $10.30, for a total transaction of $209,749.20. Following the completion of the transaction, the insider now owns 602,355 shares of the company’s stock, valued at approximately $6,204,256.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.60% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its position in Silver Spring Networks by 50.0% in the first quarter. Neuberger Berman Group LLC now owns 2,694,396 shares of the technology company’s stock valued at $30,420,000 after buying an additional 898,466 shares in the last quarter. Vanguard Group Inc. boosted its position in Silver Spring Networks by 10.6% in the first quarter. Vanguard Group Inc. now owns 1,619,151 shares of the technology company’s stock valued at $18,280,000 after buying an additional 155,130 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Silver Spring Networks by 28.0% in the first quarter. Bank of New York Mellon Corp now owns 1,405,450 shares of the technology company’s stock valued at $15,868,000 after buying an additional 307,866 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 in the last quarter. Finally, Rothschild Asset Management Inc. acquired a new position in Silver Spring Networks during the first quarter valued at $8,829,000. 76.30% of the stock is owned by institutional investors and hedge funds.

About Silver Spring Networks

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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