JMP Securities cut shares of Silver Spring Networks, Inc. (NYSE:SSNI) to a market perform rating in a research report released on Tuesday.

Other equities research analysts have also issued research reports about the stock. Cowen and Company reaffirmed a buy rating and set a $16.00 price target on shares of Silver Spring Networks in a research report on Tuesday, September 12th. FBR & Co reaffirmed a buy rating on shares of Silver Spring Networks in a research report on Monday, September 11th. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $14.00 price target on shares of Silver Spring Networks in a research report on Monday, September 18th. Guggenheim started coverage on shares of Silver Spring Networks in a research report on Tuesday, June 20th. They set a buy rating and a $13.00 price target for the company. Finally, Zacks Investment Research raised shares of Silver Spring Networks from a strong sell rating to a hold rating in a research report on Thursday, July 13th. Thirteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $15.04.

Shares of Silver Spring Networks (NYSE SSNI) opened at 16.18 on Tuesday. The company’s 50-day moving average is $12.71 and its 200-day moving average is $11.31. Silver Spring Networks has a 12-month low of $9.68 and a 12-month high of $16.18. The stock’s market cap is $866.68 million.

Silver Spring Networks (NYSE:SSNI) last posted its earnings results on Tuesday, August 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.41. The company had revenue of $261.60 million for the quarter, compared to the consensus estimate of $69.10 million. Silver Spring Networks’s revenue was up 114.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. On average, equities research analysts anticipate that Silver Spring Networks will post $0.03 earnings per share for the current year.

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In related news, insider Donald L. Reeves III sold 30,579 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.15, for a total value of $493,850.85. Following the completion of the sale, the insider now directly owns 32,260 shares of the company’s stock, valued at approximately $520,999. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raj Vaswani sold 14,272 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $10.48, for a total transaction of $149,570.56. Following the completion of the sale, the insider now directly owns 596,393 shares of the company’s stock, valued at $6,250,198.64. The disclosure for this sale can be found here. Insiders sold a total of 114,644 shares of company stock valued at $1,535,575 over the last three months. 29.60% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC increased its holdings in Silver Spring Networks by 7.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,892,353 shares of the technology company’s stock worth $32,626,000 after acquiring an additional 197,957 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 acquiring an additional 123,420 shares in the last quarter. Trigran Investments Inc. increased its holdings in Silver Spring Networks by 188.4% in the 2nd quarter. Trigran Investments Inc. now owns 1,455,386 shares of the technology company’s stock worth $16,417,000 after acquiring an additional 950,763 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Silver Spring Networks by 28.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,405,450 shares of the technology company’s stock worth $15,868,000 after acquiring an additional 307,866 shares in the last quarter. Finally, Ardsley Advisory Partners increased its holdings 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 acquiring an additional 884,000 shares in the last quarter. 78.30% of the stock is owned by institutional investors.

About Silver Spring Networks

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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