Silver Spring Networks, Inc. (NYSE:SSNI)‘s stock had its “neutral” rating reaffirmed by research analysts at Robert W. Baird in a research note issued to investors on Thursday, May 11th. They currently have a $9.00 target price on the technology company’s stock, down from their previous target price of $11.00. Robert W. Baird’s price objective would suggest a potential downside of 14.53% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Cowen and Company set a $17.00 target price on shares of Silver Spring Networks and gave the company a “buy” rating in a research report on Wednesday, May 10th. 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. Benchmark Co. assumed coverage on shares of Silver Spring Networks in a research report on Tuesday, April 25th. They issued a “hold” rating on the stock. Oppenheimer Holdings, Inc. set a $17.00 target price on shares of Silver Spring Networks and gave the company a “buy” rating in a research report on Saturday, April 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Silver Spring Networks currently has an average rating of “Hold” and an average price target of $14.67.
Silver Spring Networks (NYSE SSNI) opened at 10.53 on Thursday. Silver Spring Networks has a one year low of $9.68 and a one year high of $15.40. The firm’s market capitalization is $559.90 million. The stock has a 50 day moving average price of $10.50 and a 200 day moving average price of $11.89.
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In other Silver Spring Networks news, insider Raj Vaswani sold 29,826 shares of Silver Spring Networks stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $9.87, for a total value of $294,382.62. Following the completion of the sale, the insider now directly owns 611,947 shares of the company’s stock, valued at $6,039,916.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 75,968 shares of company stock valued at $785,370. Insiders own 29.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Harbourvest Partners LLC acquired a new stake in Silver Spring Networks during the fourth quarter valued at approximately $137,000. Global X Management Co. LLC increased its stake in 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 during the last quarter. Boothbay Fund Management LLC acquired a new stake in Silver Spring Networks during the fourth quarter valued at approximately $186,000. US Bancorp DE increased its stake in 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 during the last quarter. Finally, Ellington Management Group LLC increased its stake in Silver Spring Networks by 28.6% in the fourth quarter. Ellington Management Group LLC now owns 17,100 shares of the technology company’s stock valued at $228,000 after buying an additional 3,800 shares during the last quarter. 76.22% of the stock is owned by institutional investors.
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.
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