Insider Market Move: Richard Arnold Sold 8,621 Shares of Silver Spring Networks Inc (NYSE:SSNI)

November 23, 2016 - By Vivian Park

Insider Market Move: Richard Arnold Sold 8,621 Shares of Silver Spring Networks Inc (NYSE:SSNI)

Richard Arnold Insider Sell

Richard Arnold, General Counsel & Secretary of Silver Spring Networks Inc is the insider, OctaFinance want to report about today. Mr. Richard submitted a legally required report with the DC-based SEC revealing a sale for 8,621 shares of the California-based company, the one he is an insider in. At the time of the selling, the average stock market price of Silver Spring Networks Inc was $14.9, making the sale worth $128,453 U.S. Dollars. Richard Arnold currently holds 5,523 shares or 0.01% of Silver Spring Networks Inc’s market cap.

Silver Spring Networks Inc (NYSE:SSNI) Ratings Coverage

Out of 7 analysts covering Silver Spring Networks (NYSE:SSNI), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $17 is the highest target while $11.50 is the lowest. The $15.17 average target is 3.83% above today’s ($14.61) stock price. Silver Spring Networks has been the topic of 12 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James on Thursday, June 30 to “Strong Buy”. The rating was maintained by Wunderlich on Tuesday, February 9 with “Buy”. FBR Capital initiated Silver Spring Networks Inc (NYSE:SSNI) rating on Tuesday, November 8. FBR Capital has “Outperform” rating and $17 price target. The company was upgraded on Monday, September 7 by Pacific Crest. The rating was initiated by Oppenheimer on Friday, September 11 with “Outperform”. Wunderlich initiated it with “Buy” rating and $17.0 target price in Thursday, December 3 report. Wunderlich maintained Silver Spring Networks Inc (NYSE:SSNI) on Wednesday, September 28 with “Buy” rating. KeyBanc Capital Markets upgraded Silver Spring Networks Inc (NYSE:SSNI) on Tuesday, September 8 to “Overweight” rating.

Insitutional Activity: The institutional sentiment decreased to 1.26 in 2016 Q2. Its down 0.79, from 2.05 in 2016Q1. The ratio worsened, as 17 funds sold all Silver Spring Networks Inc shares owned while 24 reduced positions. 27 funds bought stakes while 57 increased positions. They now own 38.38 million shares or 0.26% less from 38.48 million shares in 2016Q1.

Friedberg Investment Mgmt last reported 0.41% of its portfolio in the stock. Bessemer Group Inc reported 499 shares or 0% of all its holdings. Price T Rowe Assocs Md reported 53,081 shares or 0% of all its holdings. Moreover, Renaissance Ltd has 0.01% invested in Silver Spring Networks Inc (NYSE:SSNI) for 313,700 shares. Royal Fincl Bank Of Canada last reported 22,500 shares in the company. Natixis holds 27,985 shares or 0.01% of its portfolio. Parametric Portfolio Associates Ltd Llc has 0% invested in the company for 18,112 shares. Alliancebernstein Limited Partnership owns 44,700 shares or 0% of their US portfolio. Manufacturers Life Ins The holds 0% or 26,303 shares in its portfolio. Clarivest Asset Mgmt Limited Liability Company holds 0.01% of its portfolio in Silver Spring Networks Inc (NYSE:SSNI) for 15,661 shares. The New York-based Gilder Gagnon Howe Commerce Limited has invested 0.11% in Silver Spring Networks Inc (NYSE:SSNI). Allianz Asset Ag has 0% invested in the company for 199,784 shares. Waddell And Reed Incorporated has invested 0.23% of its portfolio in Silver Spring Networks Inc (NYSE:SSNI). Spark Inv Management Limited Co has 0.11% invested in the company for 93,400 shares. Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Silver Spring Networks Inc (NYSE:SSNI).

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 7 sales for $3.49 million net activity. Gianella Kenneth P. also sold $23,384 worth of Silver Spring Networks Inc (NYSE:SSNI) shares. On Monday, August 29 the insider Reeves Donald L. III sold $71,806. Arnold Richard S. Jr. sold $103,767 worth of stock or 7,833 shares. 144,542 shares were sold by Lang Scott A., worth $1.92 million on Friday, June 3. Weiss Warren M sold $582,821 worth of stock.

The stock decreased 5.07% or $0.78 during the last trading session, hitting $14.61. About 333,005 shares traded hands or 67.94% up from the average. Silver Spring Networks Inc (NYSE:SSNI) has risen 6.43% since April 20, 2016 and is uptrending. It has outperformed by 1.88% the S&P500.

Silver Spring Networks, Inc. is engaged in creating, building and deploying networks and solutions enabling the Internet of things for critical infrastructure. The company has a market cap of $804.71 million. The Firm provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. It has a 14.28 P/E ratio. The Company’s networking platform enables clients to communicate with devices connected to the power grid.

According to Zacks Investment Research, “Silver Spring Networks, Inc. operates as a networking platform and solutions provider for smart energy networks. It enables utilities to transform the power grid infrastructure into the smart grid. The Company supplies hardware, software and services that connect devices on the grid that deploys metering, demand response, distribution automation, and distributed generation. Silver Spring Networks, Inc. is headquartered in Redwood City, CA.”

More recent Silver Spring Networks Inc (NYSE:SSNI) news were published by: Businesswire.com which released: “Silver Spring Networks Broadens Smart Utilities Ecosystem Through New ..” on November 15, 2016. Also Fool.com published the news titled: “What Investors Need to Know About Silver Spring Networks, Inc.’s Q3 Earnings” on December 05, 2015. Businesswire.com‘s news article titled: “Silver Spring Networks to Expand CPFL Distribution Automation Program Across ..” with publication date: November 07, 2016 was also an interesting one.

SSNI Company Profile

Silver Spring Networks, Inc., incorporated on July 3, 2002, is engaged in creating, building and deploying large-scale networks and solutions enabling the Internet of things (IoT) for critical infrastructure. The Firm provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. The Company’s networking platform enables clients to communicate with devices connected to the power grid. The Company’s networking platform comprises hardware, such as access points and relays; its SilverLinkOS network operating software, and its GridScape management and security software. The Firm offers an array of solutions built upon SilverLink Network and Data platforms, including advanced metering, distribution automation, demand-side management, street lights and wireless Internet protocol version 6 (IPv6) network service for the IoT, Starfish.

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