B. Riley Analysts Give Silver Spring Networks (SSNI) a $16.00 Price Target

B. Riley set a $16.00 price target on Silver Spring Networks (NYSE:SSNI) in a research note released on Thursday morning. The firm currently has a hold rating on the technology company’s stock.

A number of other research firms have also recently issued reports on SSNI. Zacks Investment Research upgraded shares of Silver Spring Networks from a hold rating to a buy rating and set a $18.00 price target for the company in a report on Tuesday, January 2nd. BidaskClub upgraded shares of Silver Spring Networks from a sell rating to a hold rating in a report on Friday, September 22nd. FBR & Co cut shares of Silver Spring Networks from a buy rating to a neutral rating and set a $16.00 price target for the company. in a report on Friday, September 22nd. Raymond James Financial cut shares of Silver Spring Networks from a strong-buy rating to a mkt perform rating in a report on Wednesday, September 20th. Finally, JMP Securities cut shares of Silver Spring Networks to a market perform rating in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $15.27.

Silver Spring Networks (NYSE:SSNI) traded up $0.02 during mid-day trading on Thursday, reaching $16.26. 60,308 shares of the company’s stock were exchanged, compared to its average volume of 712,265. Silver Spring Networks has a one year low of $9.68 and a one year high of $16.26.

In related news, insider Theresa Stynes sold 17,618 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $16.23, for a total value of $285,940.14. Following the completion of the transaction, the insider now owns 24,519 shares of the company’s stock, valued at $397,943.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Bell sold 140,230 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $16.23, for a total transaction of $2,275,932.90. Following the completion of the transaction, the chief executive officer now directly owns 208,068 shares of the company’s stock, 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 valued at $5,820,088 in the last ninety days. 25.20% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in Silver Spring Networks in the second quarter worth about $117,000. Legal & General Group Plc raised its position in 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 worth $117,000 after purchasing an additional 1,005 shares in the last quarter. Stifel Financial Corp raised its position in Silver Spring Networks by 19.3% in the second quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock worth $162,000 after purchasing an additional 2,285 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Silver Spring Networks in the third quarter worth about $162,000. Finally, LMR Partners LLP acquired a new position in Silver Spring Networks in the third quarter worth about $200,000. 75.53% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Silver Spring Networks (NYSE:SSNI)

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