Silver Spring Networks, Inc. (SSNI) Stake Decreased by Friedberg Investment Management

Friedberg Investment Management decreased its stake in Silver Spring Networks, Inc. (NYSE:SSNI) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 60,350 shares of the company’s stock after selling 1,300 shares during the period. Friedberg Investment Management owned 0.12% of Silver Spring Networks worth $803,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Shinko Asset Management Co. Ltd. raised its stake in Silver Spring Networks by 0.8% in the third quarter. Shinko Asset Management Co. Ltd. now owns 24,912 shares of the company’s stock valued at $353,000 after buying an additional 188 shares during the last quarter. RobecoSam USA Inc. raised its stake in Silver Spring Networks by 1.4% in the third quarter. RobecoSam USA Inc. now owns 35,500 shares of the company’s stock valued at $503,000 after buying an additional 500 shares during the last quarter. Stifel Financial Corp raised its stake in Silver Spring Networks by 4.2% in the second quarter. Stifel Financial Corp now owns 28,219 shares of the company’s stock valued at $344,000 after buying an additional 1,140 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Silver Spring Networks by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 123,175 shares of the company’s stock valued at $1,497,000 after buying an additional 2,202 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Silver Spring Networks by 1.9% in the third quarter. Schroder Investment Management Group now owns 257,374 shares of the company’s stock valued at $3,650,000 after buying an additional 4,716 shares during the last quarter. 76.63% of the stock is owned by institutional investors.

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

Shares of Silver Spring Networks, Inc. (NYSE:SSNI) traded down 0.76% during trading on Tuesday, reaching $13.13. 253,981 shares of the company’s stock were exchanged. The stock has a market cap of $681.37 million, a PE ratio of 12.47 and a beta of 1.67. Silver Spring Networks, Inc. has a 52-week low of $10.18 and a 52-week high of $15.40. The stock’s 50 day moving average price is $13.06 and its 200-day moving average price is $13.57.

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Several research firms have recently weighed in on SSNI. Canaccord Genuity reaffirmed a “hold” rating and set a $13.00 price objective on shares of Silver Spring Networks in a report on Friday, November 4th. FBR & Co began coverage on shares of Silver Spring Networks in a research note on Tuesday, November 8th. They set an “outperform” rating and a $17.00 price target on the stock. JMP Securities began coverage on shares of Silver Spring Networks in a research note on Friday, January 13th. They set an “outperform” rating and a $19.00 price target on the stock. Williams Capital began coverage on shares of Silver Spring Networks in a research note on Monday, November 28th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, October 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.60.

In other Silver Spring Networks news, General Counsel Richard S. Jr. Arnold sold 8,621 shares of Silver Spring Networks stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $14.90, for a total transaction of $128,452.90. Following the transaction, the general counsel now directly owns 5,523 shares of the company’s stock, valued at $82,292.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric P. Dresselhuys sold 28,867 shares of Silver Spring Networks stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $14.50, for a total transaction of $418,571.50. Following the transaction, the insider now directly owns 92,322 shares in the company, valued at $1,338,669. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,781 shares of company stock valued at $1,648,873. 29.60% of the stock is currently owned by company insiders.

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.

5 Day Chart for NYSE:SSNI

Want to see what other hedge funds are holding SSNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silver Spring Networks, Inc. (NYSE:SSNI).

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