Silver Spring Networks, Inc. (SSNI) Shares Bought by Emancipation Management LLC
Emancipation Management LLC lifted its holdings in shares of Silver Spring Networks, Inc. (NYSE:SSNI) by 61.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,104 shares of the technology company’s stock after buying an additional 31,200 shares during the period. Silver Spring Networks comprises about 1.5% of Emancipation Management LLC’s portfolio, making the stock its 19th biggest holding. Emancipation Management LLC owned about 0.15% of Silver Spring Networks worth $926,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in shares of Silver Spring Networks by 16.3% during the 1st quarter. Ameriprise Financial Inc. now owns 381,629 shares of the technology company’s stock worth $4,309,000 after buying an additional 53,430 shares in the last quarter. Teachers Advisors LLC increased its holdings in Silver Spring Networks by 2.3% in the 4th quarter. Teachers Advisors LLC now owns 60,680 shares of the technology company’s stock worth $808,000 after purchasing an additional 1,380 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in Silver Spring Networks in the 2nd quarter worth about $3,158,000. Goldman Sachs Group Inc. increased its holdings in Silver Spring Networks by 231.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 70,302 shares of the technology company’s stock worth $794,000 after purchasing an additional 49,080 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Silver Spring Networks by 7.1% in the 1st quarter. American International Group Inc. now owns 23,335 shares of the technology company’s stock worth $263,000 after purchasing an additional 1,543 shares in the last quarter. 79.50% of the stock is owned by institutional investors.
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Silver Spring Networks, Inc. (NYSE:SSNI) traded down 1.4548% during midday trading on Tuesday, hitting $12.9784. The company’s stock had a trading volume of 141,843 shares. Silver Spring Networks, Inc. has a 52-week low of $9.68 and a 52-week high of $15.40. The stock has a 50 day moving average of $12.19 and a 200 day moving average of $11.22. The company’s market cap is $695.19 million.
Silver Spring Networks (NYSE:SSNI) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.41. The company had revenue of $261.60 million during the quarter, compared to analysts’ expectations of $69.10 million. The firm’s quarterly revenue was up 114.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, equities analysts expect that Silver Spring Networks, Inc. will post $0.03 EPS for the current year.
In other news, insider Raj Vaswani sold 9,611 shares of Silver Spring Networks stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $12.97, for a total value of $124,654.67. Following the transaction, the insider now owns 634,727 shares in the company, valued at $8,232,409.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 84,065 shares of company stock worth $1,041,724. Company insiders own 29.60% of the company’s stock.
A number of brokerages have issued reports on SSNI. Zacks Investment Research raised Silver Spring Networks from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. Oppenheimer Holdings, Inc. set a $14.00 target price on Silver Spring Networks and gave the stock a “buy” rating in a report on Wednesday, August 9th. Canaccord Genuity upped their target price on Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a report on Monday, August 14th. Williams Capital upped their target price on Silver Spring Networks from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Silver Spring Networks in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $14.23.
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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