Silver Spring Networks, Inc. (SSNI) Shares Bought by KBC Group NV

KBC Group NV increased its holdings in Silver Spring Networks, Inc. (NYSE:SSNI) by 695.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,804 shares of the technology company’s stock after acquiring an additional 128,354 shares during the quarter. KBC Group NV owned approximately 0.27% of Silver Spring Networks worth $2,374,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Trigran Investments Inc. increased its stake in Silver Spring Networks by 188.4% in the 2nd quarter. Trigran Investments Inc. now owns 1,455,386 shares of the technology company’s stock valued at $16,417,000 after buying an additional 950,763 shares during the period. Ardsley Advisory Partners increased its stake in Silver Spring Networks by 232.6% in the 2nd quarter. Ardsley Advisory Partners now owns 1,264,000 shares of the technology company’s stock valued at $14,264,000 after buying an additional 884,000 shares during the period. Gabelli Funds LLC acquired a new position in Silver Spring Networks in the 3rd quarter valued at $9,657,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Silver Spring Networks in the 3rd quarter valued at $6,468,000. Finally, JPMorgan Chase & Co. acquired a new position in Silver Spring Networks in the 3rd quarter valued at $6,242,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on SSNI shares. Cowen reissued a “buy” rating and issued a $16.00 price objective on shares of Silver Spring Networks in a research note on Tuesday, September 12th. FBR & Co restated a “buy” rating on shares of Silver Spring Networks in a research report on Monday, September 11th. Oppenheimer restated a “buy” rating and set a $14.00 target price on shares of Silver Spring Networks in a research report on Monday, September 18th. ValuEngine upgraded shares of Silver Spring Networks from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Canaccord Genuity boosted their target price on shares of Silver Spring Networks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Silver Spring Networks has a consensus rating of “Hold” and an average price target of $14.95.

Silver Spring Networks, Inc. (SSNI) traded up $0.02 during trading on Monday, hitting $16.24. 1,001,600 shares of the company traded hands, compared to its average volume of 629,865. Silver Spring Networks, Inc. has a 1-year low of $9.68 and a 1-year high of $16.24.

In other Silver Spring Networks news, insider Theresa Stynes sold 46,886 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $16.11, for a total value of $755,333.46. Following the transaction, the insider now directly owns 23,749 shares in the company, valued at approximately $382,596.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Donald L. Reeves III sold 30,579 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 32,260 shares in the company, valued at $520,999. The disclosure for this sale can be found here. Insiders sold a total of 177,406 shares of company stock worth $2,860,939 over the last quarter. Insiders own 25.20% of the company’s stock.

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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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