Teachers Advisors LLC increased its position in shares of Silver Spring Networks, Inc. (NYSE:SSNI) by 24.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,270 shares of the technology company’s stock after buying an additional 15,578 shares during the quarter. Teachers Advisors LLC owned about 0.15% of Silver Spring Networks worth $883,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SSNI. Neuberger Berman Group LLC raised its stake in shares of Silver Spring Networks by 7.3% in the second quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock worth $32,626,000 after purchasing an additional 197,957 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 155,130 shares in the last quarter. Trigran Investments Inc. grew its holdings in shares of Silver Spring Networks by 188.4% in the second quarter. Trigran Investments Inc. now owns 1,455,386 shares of the technology company’s stock valued at $16,417,000 after acquiring an additional 950,763 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 acquiring an additional 112,428 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Silver Spring Networks by 14.5% in the first quarter. Geode Capital Management LLC now owns 305,422 shares of the technology company’s stock valued at $3,448,000 after acquiring an additional 38,626 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Silver Spring Networks, Inc. (NYSE SSNI) opened at $16.09 on Friday. Silver Spring Networks, Inc. has a 12-month low of $9.68 and a 12-month high of $16.24.
Silver Spring Networks (NYSE:SSNI) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.41. The firm had revenue of $261.60 million for the quarter, compared to analysts’ expectations of $69.10 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 114.6% on a year-over-year basis. analysts expect that Silver Spring Networks, Inc. will post -0.44 EPS for the current year.
SSNI has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $11.00 target price (up from $9.00) on shares of Silver Spring Networks in a report on Friday, September 8th. Cowen and Company reissued a “buy” rating and set a $16.00 price objective 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. FBR & Co reissued a “buy” rating on shares of Silver Spring Networks in a report on Monday, September 11th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating and set a $16.25 price objective on shares of Silver Spring Networks in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.95.
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In other Silver Spring Networks news, insider Donald L. Reeves III sold 30,579 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.15, for a total transaction of $493,850.85. Following the sale, the insider now owns 32,260 shares in the company, valued at $520,999. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Vaswani sold 15,687 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $12.89, for a total value of $202,205.43. Following the transaction, the insider now directly owns 648,724 shares in the company, valued at $8,362,052.36. The disclosure for this sale can be found here. Insiders have sold 114,645 shares of company stock worth $1,617,370 in the last 90 days. Company insiders own 29.60% of the company’s stock.
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.
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