Tokio Marine Asset Management Co. Ltd. Invests $1.83 Million in Silver Spring Networks Inc (SSNI) Stock

Tokio Marine Asset Management Co. Ltd. acquired a new stake in Silver Spring Networks Inc (NYSE:SSNI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 112,577 shares of the technology company’s stock, valued at approximately $1,828,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legal & General Group Plc raised its holdings in Silver Spring Networks by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after buying an additional 1,005 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Silver Spring Networks by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 146,434 shares of the technology company’s stock valued at $1,652,000 after buying an additional 1,296 shares during the last quarter. Stifel Financial Corp raised its holdings in Silver Spring Networks by 19.3% in the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after buying an additional 2,285 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Silver Spring Networks by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 43,300 shares of the technology company’s stock valued at $488,000 after buying an additional 2,400 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Silver Spring Networks by 18.1% in the 2nd quarter. Voya Investment Management LLC now owns 20,111 shares of the technology company’s stock valued at $227,000 after buying an additional 3,081 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.

A number of analysts have weighed in on the stock. BidaskClub downgraded shares of Silver Spring Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. Guggenheim reissued a “hold” rating on shares of Silver Spring Networks in a research report on Friday, January 12th. Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, January 2nd. Finally, B. Riley set a $16.00 target price on shares of Silver Spring Networks and gave the company a “hold” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.96.

In other news, EVP Philippe Gaglione sold 24,518 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $16.12, for a total transaction of $395,230.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Vaswani sold 14,273 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $16.07, for a total transaction of $229,367.11. Following the sale, the insider now directly owns 106,057 shares of the company’s stock, valued at approximately $1,704,335.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 359,521 shares of company stock valued at $5,820,088. Insiders own 25.20% of the company’s stock.

Shares of Silver Spring Networks Inc (NYSE:SSNI) opened at $16.26 on Thursday. The firm has a market cap of $880.35, a P/E ratio of -19.59 and a beta of 1.60. Silver Spring Networks Inc has a 52-week low of $9.68 and a 52-week high of $16.26.

Silver Spring Networks (NYSE:SSNI) last released its earnings results on Wednesday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The firm had revenue of $82.79 million for the quarter, compared to analyst estimates of $77.32 million. equities research analysts anticipate that Silver Spring Networks Inc will post -0.34 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for Silver Spring Networks (NYSE:SSNI)

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