Silver Spring Networks, Inc. (NYSE:SSNI) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.00.

A number of research analysts have recently commented on the stock. Oppenheimer Holdings, Inc. set a $17.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a research report on Saturday, April 1st. FBR & Co set a $16.00 price objective on shares of Silver Spring Networks and gave the company a “buy” rating in a research report on Saturday, May 13th. Zacks Investment Research raised shares of Silver Spring Networks from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $11.00) on shares of Silver Spring Networks in a research report on Thursday, May 11th. Finally, Pacific Crest lowered shares of Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, May 10th.

In related news, insider Raj Vaswani sold 14,272 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $10.48, for a total value of $149,570.56. Following the sale, the insider now owns 596,393 shares of the company’s stock, valued at $6,250,198.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 64,462 shares of company stock worth $653,702. 29.60% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Global X Management Co. LLC boosted its stake in shares of Silver Spring Networks by 403.2% in the first quarter. Global X Management Co. LLC now owns 15,810 shares of the technology company’s stock valued at $178,000 after buying an additional 12,668 shares in the last quarter. US Bancorp DE boosted its stake in shares of Silver Spring Networks by 46.7% in the first quarter. US Bancorp DE now owns 19,576 shares of the technology company’s stock valued at $221,000 after buying an additional 6,235 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Silver Spring Networks by 106.2% in the first quarter. UBS Asset Management Americas Inc. now owns 21,036 shares of the technology company’s stock valued at $237,000 after buying an additional 10,836 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Silver Spring Networks during the fourth quarter valued at $257,000. Finally, American International Group Inc. boosted its stake in shares of Silver Spring Networks by 7.1% in the first quarter. American International Group Inc. now owns 23,335 shares of the technology company’s stock valued at $263,000 after buying an additional 1,543 shares in the last quarter. 76.32% of the stock is currently owned by institutional investors and hedge funds.

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Silver Spring Networks (SSNI) traded up 0.09% during trading on Tuesday, reaching $10.91. The company had a trading volume of 28,911 shares. The stock’s market cap is $580.11 million. The firm has a 50-day moving average price of $10.80 and a 200 day moving average price of $11.42. Silver Spring Networks has a 12-month low of $9.68 and a 12-month high of $15.40.

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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