Silver Spring Networks Inc (NYSE:SSNI) – Analysts at B. Riley lifted their Q4 2017 earnings per share (EPS) estimates for Silver Spring Networks in a research report issued to clients and investors on Thursday. B. Riley analyst C. Driscoll now forecasts that the technology company will post earnings of ($0.04) per share for the quarter, up from their previous forecast of ($0.05). B. Riley has a “Hold” rating and a $16.00 price objective on the stock.

Several other research firms also recently weighed in on SSNI. Guggenheim downgraded Silver Spring Networks from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $13.00 to $16.00 in a report on Monday, September 18th. Oppenheimer reiterated a “buy” rating and issued a $14.00 target price on shares of Silver Spring Networks in a report on Monday, September 18th. FBR & Co downgraded shares of Silver Spring Networks from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Friday, September 22nd. BidaskClub upgraded shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, Raymond James Financial reiterated a “market perform” rating and issued a $16.25 target price on shares of Silver Spring Networks in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.27.

Shares of Silver Spring Networks (SSNI) opened at $16.26 on Monday. The firm has a market capitalization of $880.35, a PE ratio of -19.59 and a beta of 1.60. Silver Spring Networks has a fifty-two week low of $9.68 and a fifty-two week high of $16.26.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Magnetar Financial LLC purchased a new stake in Silver Spring Networks in the third quarter valued at approximately $31,789,000. Vanguard Group Inc. boosted its position in Silver Spring Networks by 7.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,742,571 shares of the technology company’s stock worth $19,656,000 after purchasing an additional 123,420 shares in the last quarter. Trigran Investments Inc. boosted its position in Silver Spring Networks by 2.5% in the 3rd quarter. Trigran Investments Inc. now owns 1,491,592 shares of the technology company’s stock worth $24,119,000 after purchasing an additional 36,206 shares in the last quarter. Ardsley Advisory Partners boosted its position in Silver Spring Networks by 232.6% in the 2nd quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock worth $14,264,000 after purchasing an additional 884,000 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Silver Spring Networks by 569.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,181,315 shares of the technology company’s stock worth $19,101,000 after purchasing an additional 1,004,779 shares in the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.

In related news, COO Aysegul Ildeniz sold 16,189 shares of the company’s stock in a transaction that occurred 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 $317,180.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Bell sold 140,230 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $16.23, for a total value of $2,275,932.90. Following the completion of the sale, the chief executive officer now owns 208,068 shares in the company, valued at approximately $3,376,943.64. The disclosure for this sale can be found here. Insiders have sold 359,521 shares of company stock worth $5,820,088 in the last 90 days. Insiders own 25.20% of the company’s stock.

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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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