Silver Spring Networks, Inc. (NYSE:SSNI) General Counsel Richard S. Jr. Arnold sold 68,541 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $16.24, for a total value of $1,113,105.84. Following the completion of the transaction, the general counsel now directly owns 47,051 shares of the company’s stock, valued at $764,108.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Silver Spring Networks, Inc. (NYSE:SSNI) remained flat at $$16.22 during trading on Tuesday. 850,344 shares of the company traded hands, compared to its average volume of 631,410. Silver Spring Networks, Inc. has a twelve month low of $9.68 and a twelve month high of $16.24.

Several institutional investors have recently bought and sold shares of SSNI. Magnetar Financial LLC purchased a new stake in shares of Silver Spring Networks in the third quarter valued at approximately $31,789,000. Allianz Asset Management GmbH increased its position in shares of Silver Spring Networks by 569.2% in the third quarter. Allianz Asset Management GmbH now owns 1,181,315 shares of the technology company’s stock valued at $19,101,000 after buying an additional 1,004,779 shares in the last quarter. Trigran Investments Inc. increased its position in shares of 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 worth $16,417,000 after purchasing an additional 950,763 shares in the last quarter. Ardsley Advisory Partners increased its position in shares of 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 worth $14,264,000 after purchasing an additional 884,000 shares in the last quarter. Finally, Vivaldi Asset Management LLC purchased a new stake in shares of Silver Spring Networks during the third quarter worth approximately $13,039,000. Institutional investors and hedge funds own 76.05% of the company’s stock.

A number of brokerages have issued reports on SSNI. Canaccord Genuity boosted their price target on Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a report on Monday, August 14th. Raymond James Financial reissued a “market perform” rating and issued a $16.25 price target on shares of Silver Spring Networks in a report on Tuesday, September 19th. Cowen reissued a “buy” rating and issued a $16.00 price target on shares of Silver Spring Networks in a report on Tuesday, September 12th. ValuEngine raised Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Finally, Guggenheim downgraded Silver Spring Networks from a “buy” rating to a “neutral” rating and boosted their price target for the company from $13.00 to $16.00 in a report on Monday, September 18th. One investment 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. Silver Spring Networks has an average rating of “Hold” and a consensus target price of $14.95.

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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.

Insider Buying and Selling by Quarter for Silver Spring Networks (NYSE:SSNI)

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