Kassirer Asset Management Corp bought a new position in Silver Spring Networks, Inc. (NYSE:SSNI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 302,000 shares of the technology company’s stock, valued at approximately $4,883,000. Silver Spring Networks comprises about 4.6% of Kassirer Asset Management Corp’s investment portfolio, making the stock its 6th largest position. Kassirer Asset Management Corp owned 0.56% of Silver Spring Networks as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. grew its position in shares of Silver Spring Networks by 106.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 21,036 shares of the technology company’s stock valued at $237,000 after buying an additional 10,836 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Silver Spring Networks by 291.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 64,674 shares of the technology company’s stock valued at $730,000 after buying an additional 48,142 shares during the last quarter. American International Group Inc. grew its position in shares of Silver Spring Networks by 7.1% during the 1st quarter. American International Group Inc. now owns 23,335 shares of the technology company’s stock valued at $263,000 after buying an additional 1,543 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Silver Spring Networks by 360.1% during the 1st quarter. Wellington Management Group LLP now owns 266,482 shares of the technology company’s stock valued at $3,008,000 after buying an additional 208,567 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Silver Spring Networks by 3.3% during the 1st quarter. Teachers Advisors LLC now owns 62,692 shares of the technology company’s stock valued at $708,000 after buying an additional 2,012 shares during the last quarter. 76.15% of the stock is owned by institutional investors.

In related news, insider Raj Vaswani sold 14,273 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $16.21, for a total value of $231,365.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald L. Reeves III sold 30,579 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.15, for a total transaction of $493,850.85. Following the completion of the sale, the insider now owns 32,260 shares of the company’s stock, valued at approximately $520,999. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,645 shares of company stock valued at $1,617,370. Company insiders own 29.60% of the company’s stock.

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SSNI has been the subject of a number of recent research reports. Cowen and Company reaffirmed a “buy” rating and set a $16.00 price objective 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 objective on shares of Silver Spring Networks in a research report on Monday, September 18th. Williams Capital boosted their price objective on shares of Silver Spring Networks from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, August 9th. Finally, Canaccord Genuity boosted their price objective on shares of Silver Spring Networks from $10.50 to $11.50 and gave the company a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Silver Spring Networks has an average rating of “Hold” and an average price target of $14.95.

Silver Spring Networks, Inc. (NYSE SSNI) traded down $0.01 during mid-day trading on Friday, reaching $16.12. 724,000 shares of the company traded hands, compared to its average volume of 599,272. Silver Spring Networks, Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $16.24.

Silver Spring Networks (NYSE:SSNI) last released its earnings results on Tuesday, August 8th. The technology company reported $0.34 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.41. The business had revenue of $261.60 million for the quarter, compared to analyst estimates of $69.10 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 114.6% on a year-over-year basis. equities analysts predict that Silver Spring Networks, Inc. will post -0.43 EPS for the current year.

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.

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

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