Shares of Silver Spring Networks Inc (NYSE:SSNI) have been assigned an average recommendation of “Buy” from the thirteen analysts that are covering the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.10.

SSNI has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Silver Spring Networks in a report on Wednesday, February 8th. JMP Securities initiated coverage on shares of Silver Spring Networks in a report on Friday, January 13th. They issued an “outperform” rating and a $19.00 price objective for the company. Wunderlich downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $14.00 in a report on Wednesday, February 22nd. Williams Financial Group downgraded shares of Silver Spring Networks from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Silver Spring Networks in a report on Wednesday, December 14th.

In other Silver Spring Networks news, insider Eric P. Dresselhuys sold 28,758 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $13.14, for a total value of $377,880.12. Following the sale, the insider now directly owns 101,512 shares in the company, valued at $1,333,867.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raj Vaswani sold 25,777 shares of the business’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $12.98, for a total transaction of $334,585.46. Following the completion of the sale, the insider now owns 600,721 shares in the company, valued at $7,797,358.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,405 shares of company stock worth $1,065,930. 29.60% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its stake in shares of Silver Spring Networks by 0.5% in the third quarter. Neuberger Berman Group LLC now owns 1,775,792 shares of the company’s stock valued at $25,181,000 after buying an additional 8,127 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Silver Spring Networks by 21.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,637 shares of the company’s stock valued at $10,297,000 after buying an additional 136,969 shares during the period. State Street Corp boosted its stake in shares of Silver Spring Networks by 4.7% in the fourth quarter. State Street Corp now owns 693,144 shares of the company’s stock valued at $9,227,000 after buying an additional 31,130 shares during the period. Arrowpoint Asset Management LLC boosted its stake in shares of Silver Spring Networks by 3.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 610,303 shares of the company’s stock valued at $8,123,000 after buying an additional 20,000 shares during the period. Finally, Robecosam AG boosted its stake in shares of Silver Spring Networks by 5.9% in the third quarter. Robecosam AG now owns 517,900 shares of the company’s stock valued at $7,292,000 after buying an additional 28,900 shares during the period. Hedge funds and other institutional investors own 76.63% of the company’s stock.

Silver Spring Networks (NYSE:SSNI) traded down 0.37% during trading on Monday, reaching $10.67. 106,287 shares of the company’s stock traded hands. The stock’s market capitalization is $565.96 million. Silver Spring Networks has a 12 month low of $10.18 and a 12 month high of $15.40. The company has a 50-day moving average of $12.35 and a 200 day moving average of $13.35.

Silver Spring Networks (NYSE:SSNI) last announced its quarterly earnings results on Tuesday, February 21st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.29. The firm had revenue of $66.30 million for the quarter, compared to the consensus estimate of $76.09 million. During the same period last year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was down 66.7% on a year-over-year basis. On average, equities research analysts expect that Silver Spring Networks will post $0.19 earnings per share for the current fiscal year.

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About Silver Spring Networks

Silver Spring Networks, Inc is engaged in creating, building and deploying 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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