Silver Spring Networks Inc (SSNI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Silver Spring Networks Inc (NYSE:SSNI) by 83.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 186,719 shares of the technology company’s stock after selling 963,084 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of Silver Spring Networks worth $3,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FNY Partners Fund LP bought a new stake in shares of Silver Spring Networks during the 4th quarter worth $197,000. Teacher Retirement System of Texas bought a new stake in shares of Silver Spring Networks during the 4th quarter worth $225,000. Global X Management Co. LLC lifted its holdings in shares of Silver Spring Networks by 60.8% during the 4th quarter. Global X Management Co. LLC now owns 43,004 shares of the technology company’s stock worth $698,000 after acquiring an additional 16,261 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Silver Spring Networks during the 3rd quarter worth $232,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Silver Spring Networks by 58.8% during the 3rd quarter. Sterling Capital Management LLC now owns 72,088 shares of the technology company’s stock worth $1,166,000 after acquiring an additional 26,687 shares during the last quarter. 75.53% of the stock is owned by institutional investors.

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Silver Spring Networks stock opened at $16.26 on Friday. Silver Spring Networks Inc has a twelve month low of $9.68 and a twelve month high of $16.26.

A number of analysts have recently issued reports on the stock. Guggenheim reaffirmed a “hold” rating on shares of Silver Spring Networks in a report on Friday, January 12th. B. Riley set a $16.00 price target on shares of Silver Spring Networks and gave the stock a “hold” rating in a research note on Thursday, January 4th. Finally, Zacks Investment Research raised shares of Silver Spring Networks from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.05.

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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.

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

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