Schwab Charles Investment Management Inc. boosted its stake in shares of Silver Spring Networks, Inc. (NYSE:SSNI) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,138 shares of the technology company’s stock after buying an additional 8,190 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.28% of Silver Spring Networks worth $1,639,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of Silver Spring Networks by 50.0% in the first quarter. Neuberger Berman Group LLC now owns 2,694,396 shares of the technology company’s stock valued at $30,420,000 after buying an additional 898,466 shares during the period. Rothschild Asset Management Inc. purchased a new position in shares of Silver Spring Networks during the first quarter valued at approximately $8,829,000. Trigran Investments Inc. purchased a new position in shares of Silver Spring Networks during the first quarter valued at approximately $5,697,000. Bank of New York Mellon Corp raised its position in shares of Silver Spring Networks by 28.0% in the first quarter. Bank of New York Mellon Corp now owns 1,405,450 shares of the technology company’s stock valued at $15,868,000 after buying an additional 307,866 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Silver Spring Networks by 360.1% in the first 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 period. Hedge funds and other institutional investors own 75.73% of the company’s stock.

Silver Spring Networks, Inc. (NYSE:SSNI) traded down 0.48% during trading on Friday, reaching $12.54. The company had a trading volume of 184,553 shares. The company’s market capitalization is $671.71 million. The firm’s 50 day moving average is $11.63 and its 200 day moving average is $11.30. Silver Spring Networks, Inc. has a one year low of $9.68 and a one year high of $15.40.

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

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Several equities analysts have recently commented on SSNI shares. Zacks Investment Research lowered Silver Spring Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. BidaskClub lowered Silver Spring Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Pacific Crest lowered Silver Spring Networks from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, May 10th. Guggenheim initiated coverage on Silver Spring Networks in a research report on Tuesday, June 20th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Raymond James Financial, Inc. restated a “strong-buy” rating on shares of Silver Spring Networks in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.05.

In related news, insider Raj Vaswani sold 15,229 shares of Silver Spring Networks stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $12.89, for a total value of $196,301.81. Following the completion of the sale, the insider now owns 648,724 shares in the company, valued at approximately $8,362,052.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 76,163 shares of company stock valued at $895,322 in the last quarter. 29.60% of the stock is owned by insiders.

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.

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

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