Wells Fargo & Company MN decreased its position in shares of Silver Spring Networks Inc (NYSE:SSNI) by 10.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 171,727 shares of the technology company’s stock after selling 19,455 shares during the period. Wells Fargo & Company MN’s holdings in Silver Spring Networks were worth $2,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Silver Spring Networks during the 3rd quarter valued at $6,242,000. First Trust Advisors LP boosted its holdings in shares of Silver Spring Networks by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 118,233 shares of the technology company’s stock valued at $1,334,000 after acquiring an additional 9,855 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Silver Spring Networks during the 3rd quarter valued at $2,332,000. Gamco Investors INC. ET AL acquired a new stake in shares of Silver Spring Networks during the 3rd quarter valued at $5,533,000. Finally, Swiss National Bank boosted its holdings in shares of Silver Spring Networks by 14.2% during the 2nd quarter. Swiss National Bank now owns 66,600 shares of the technology company’s stock valued at $751,000 after acquiring an additional 8,300 shares in the last quarter. 75.53% of the stock is currently owned by institutional investors.

In other news, insider Raj Vaswani sold 14,273 shares of Silver Spring Networks stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $16.07, for a total value of $229,367.11. Following the completion of the transaction, the insider now directly owns 106,057 shares of the company’s stock, valued at approximately $1,704,335.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Theresa Stynes sold 46,886 shares of Silver Spring Networks stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $16.11, for a total value of $755,333.46. Following the completion of the transaction, the insider now directly owns 23,749 shares of the company’s stock, valued at $382,596.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 359,521 shares of company stock valued at $5,820,088. 25.20% of the stock is owned by corporate insiders.

Silver Spring Networks Inc (NYSE:SSNI) opened at $16.26 on Friday. The stock has a market capitalization of $880.35, a price-to-earnings ratio of -19.59 and a beta of 1.60. Silver Spring Networks Inc has a 12-month low of $9.68 and a 12-month high of $16.26.

SSNI has been the topic of several recent research reports. Zacks Investment Research raised Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, January 2nd. Oppenheimer reissued a “buy” rating and set a $14.00 price objective on shares of Silver Spring Networks in a report on Monday, September 18th. BidaskClub raised Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. ValuEngine raised Silver Spring Networks from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Finally, Canaccord Genuity raised their target price on Silver Spring Networks from $11.50 to $16.25 and gave the stock a “hold” rating in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $15.27.

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

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