Silver Spring Networks, Inc. (NYSE:SSNI) has been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $14.16.

SSNI has been the topic of several research analyst reports. Guggenheim lowered shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $16.00 in a research note on Monday, September 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $14.00 target price on shares of Silver Spring Networks in a research note on Monday, September 18th. Canaccord Genuity increased their target price on shares of Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a research note on Monday, August 14th. FBR & Co lowered shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Friday, September 22nd. Finally, Raymond James Financial, Inc. reissued a “market perform” rating and set a $16.25 target price on shares of Silver Spring Networks in a research note on Tuesday, September 19th.

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In related news, insider Raj Vaswani sold 15,687 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $12.89, for a total transaction of $202,205.43. Following the completion of the transaction, the insider now owns 648,724 shares in the company, valued at $8,362,052.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Donald L. Reeves III sold 30,579 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.15, for a total transaction of $493,850.85. Following the transaction, the insider now owns 32,260 shares of the company’s stock, valued at approximately $520,999. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,645 shares of company stock worth $1,617,370. Corporate insiders own 29.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC grew its position in Silver Spring Networks by 7.3% during the second quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock valued at $32,626,000 after buying an additional 197,957 shares during the period. Vanguard Group Inc. grew its position in Silver Spring Networks by 7.6% during the second quarter. Vanguard Group Inc. now owns 1,742,571 shares of the technology company’s stock valued at $19,656,000 after buying an additional 123,420 shares during the period. Trigran Investments Inc. grew its position in Silver Spring Networks by 188.4% during the second quarter. Trigran Investments Inc. now owns 1,455,386 shares of the technology company’s stock valued at $16,417,000 after buying an additional 950,763 shares during the period. Ardsley Advisory Partners grew its position in Silver Spring Networks by 232.6% during the second quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock valued at $14,264,000 after buying an additional 884,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Silver Spring Networks by 14.5% during 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 period. Institutional investors own 79.43% of the company’s stock.

Silver Spring Networks (NYSE:SSNI) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.41. The company had revenue of $261.60 million for the quarter, compared to the consensus estimate of $69.10 million. The firm’s revenue was up 114.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share.

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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