Capital Fund Management S.A. purchased a new position in shares of Silver Spring Networks Inc. (NYSE:SSNI) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 32,600 shares of the company’s stock, valued at approximately $396,000.
Other large investors have also recently bought and sold shares of the company. Spark Investment Management LLC purchased a new stake in Silver Spring Networks during the first quarter worth about $501,000. Robecosam AG increased its stake in Silver Spring Networks by 16.4% in the first quarter. Robecosam AG now owns 420,363 shares of the company’s stock worth $6,184,000 after buying an additional 59,363 shares during the period. Shinko Asset Management Co. Ltd. increased its stake in Silver Spring Networks by 1.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 24,724 shares of the company’s stock worth $300,000 after buying an additional 327 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new stake in Silver Spring Networks during the second quarter worth about $277,000. Finally, HBK Investments L P increased its stake in Silver Spring Networks by 79.9% in the first quarter. HBK Investments L P now owns 21,000 shares of the company’s stock worth $310,000 after buying an additional 9,325 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.
Silver Spring Networks Inc. (NYSE:SSNI) remained flat at $13.68 on Friday. The stock had a trading volume of 105,848 shares. The stock has a market cap of $705.75 million, a PE ratio of 10.46 and a beta of 1.76. The stock has a 50-day moving average of $13.85 and a 200 day moving average of $13.28. Silver Spring Networks Inc. has a 12-month low of $9.55 and a 12-month high of $16.18.
Silver Spring Networks (NYSE:SSNI) last posted its earnings results on Thursday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07. The firm earned $71.85 million during the quarter, compared to the consensus estimate of $68.18 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that Silver Spring Networks Inc. will post $0.14 EPS for the current year.
SSNI has been the subject of a number of research reports. Wunderlich boosted their price target on Silver Spring Networks from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $17.00 target price (up previously from $15.00) on shares of Silver Spring Networks in a research report on Monday. Raymond James Financial Inc. raised Silver Spring Networks from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Thursday, June 30th. Zacks Investment Research raised Silver Spring Networks from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Thursday, August 11th. Finally, Pacific Crest reaffirmed a “buy” rating and issued a $17.00 target price on shares of Silver Spring Networks in a research report on Friday, August 5th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.22.
In other news, CTO Donald L. Reeves III sold 5,129 shares of Silver Spring Networks stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.00, for a total value of $71,806.00. Following the completion of the transaction, the chief technology officer now owns 42,823 shares in the company, valued at $599,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.60% of the stock is currently owned by insiders.
Silver Spring Networks Company Profile
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.
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