Dimensional Fund Advisors LP lowered its stake in shares of Silver Spring Networks Inc (NYSE:SSNI) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,047 shares of the technology company’s stock after selling 250,935 shares during the quarter. Dimensional Fund Advisors LP owned 0.88% of Silver Spring Networks worth $7,681,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Longfellow Investment Management Co. LLC purchased a new position in shares of Silver Spring Networks during the 3rd quarter valued at $162,000. Legal & General Group Plc lifted its position in shares of Silver Spring Networks by 10.8% during the 2nd quarter. Legal & General Group Plc now owns 10,329 shares of the technology company’s stock valued at $117,000 after buying an additional 1,005 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Silver Spring Networks during the 3rd quarter valued at $200,000. Stifel Financial Corp lifted its position in shares of Silver Spring Networks by 19.3% during the 2nd quarter. Stifel Financial Corp now owns 14,100 shares of the technology company’s stock valued at $162,000 after buying an additional 2,285 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Silver Spring Networks by 18.1% during the 2nd quarter. Voya Investment Management LLC now owns 20,111 shares of the technology company’s stock valued at $227,000 after buying an additional 3,081 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.
SSNI has been the topic of a number of analyst reports. Guggenheim reiterated a “hold” rating on shares of Silver Spring Networks in a research note on Friday, January 12th. Zacks Investment Research upgraded Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, January 2nd. B. Riley set a $16.00 target price on Silver Spring Networks and gave the stock a “hold” rating in a research note on Thursday, January 4th. Finally, BidaskClub lowered Silver Spring Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.96.
Shares of Silver Spring Networks Inc (NYSE SSNI) opened at $16.26 on Friday. Silver Spring Networks Inc has a fifty-two week low of $9.68 and a fifty-two week high of $16.26. The firm has a market capitalization of $880.35, a P/E ratio of -19.59 and a beta of 1.60.
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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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