Allianz Asset Management GmbH raised its stake in Silver Spring Networks Inc (NYSE:SSNI) by 569.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,181,315 shares of the technology company’s stock after purchasing an additional 1,004,779 shares during the quarter. Allianz Asset Management GmbH owned 2.18% of Silver Spring Networks worth $19,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Silver Spring Networks by 10.8% in the second quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,005 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Silver Spring Networks in the second quarter valued at approximately $117,000. Stifel Financial Corp grew its holdings in shares of Silver Spring Networks by 19.3% in the second quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after acquiring an additional 2,285 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Silver Spring Networks in the third quarter valued at approximately $162,000. Finally, Trexquant Investment LP bought a new position in shares of Silver Spring Networks in the second quarter valued at approximately $171,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

Silver Spring Networks Inc (NYSE SSNI) remained flat at $$16.22 during trading hours on Wednesday. The company’s stock had a trading volume of 850,300 shares, compared to its average volume of 631,410. Silver Spring Networks Inc has a 12 month low of $9.68 and a 12 month high of $16.24.

In other Silver Spring Networks news, General Counsel Richard S. Jr. Arnold sold 68,541 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $16.24, for a total transaction of $1,113,105.84. Following the sale, the general counsel now owns 47,051 shares in the company, valued at $764,108.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Aysegul Ildeniz sold 16,189 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $16.13, for a total value of $261,128.57. Following the sale, the chief operating officer now owns 19,664 shares in the company, valued at approximately $317,180.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 245,947 shares of company stock worth $3,974,044. Company insiders own 25.20% of the company’s stock.

Several research firms have recently issued reports on SSNI. BidaskClub lowered Silver Spring Networks from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. FBR & Co lowered Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Friday, September 22nd. Raymond James Financial lowered Silver Spring Networks from a “strong-buy” rating to a “mkt perform” rating in a report on Wednesday, September 20th. JMP Securities lowered Silver Spring Networks to a “market perform” rating in a report on Tuesday, September 19th. Finally, Canaccord Genuity increased their price objective on Silver Spring Networks from $11.50 to $16.25 and gave the company a “hold” rating in a report on Tuesday, September 19th. 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 stock. Silver Spring Networks has a consensus rating of “Hold” and a consensus target price of $14.95.

COPYRIGHT VIOLATION WARNING: “Allianz Asset Management GmbH Has $19.10 Million Stake in Silver Spring Networks Inc (SSNI)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/allianz-asset-management-gmbh-has-19-10-million-stake-in-silver-spring-networks-inc-ssni/1761696.html.

Silver Spring Networks 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.

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

Receive News & Ratings for Silver Spring Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silver Spring Networks and related companies with MarketBeat.com's FREE daily email newsletter.