Type
|
Public |
---|---|
Traded as | NYSE: SSNI |
Industry | Smart Grid |
Founded | Milwaukee, Wisconsin (2002) |
Headquarters | San Jose, California, U.S. |
Area served
|
U.S., Australia, Canada, Latin America, UK, Europe, Asia |
Key people
|
Mike Bell, President and CEO |
Products | IPv6-based smart grid communications network, demand response, demand automation, utility management software, consumer web portal |
Website | silverspringnet |
Silver Spring Networks is a provider of smart grid products, headquartered in San Jose, California, with offices in Australia, Singapore, Brazil, and the United Kingdom. Besides communications devices, Silver Spring Networks develops software for utilities and customers to improve energy efficiency. Founded in 2002 backed by venture capital, Silver Spring Networks went public on the New York Stock Exchange on March 13, 2013.
Silver Spring Networks was founded in July 2002 as Real Time Techomm in Butler, Wisconsin, near Milwaukee. Original founders included Eric Dresselhuys who had worked on related technology since 1995, and Keith Burge. In 2002, funding came from Denver angel investor Jack Thompson. The company adopted the name of the street in Milwaukee of its original office and was relocated to Redwood City, California in 2003. At this time, Foundation Capital invested $8 million in the company and Raj Vaswani joined the founding team. Ray Bell became interim CEO and chief technology officer, but left to found Grid Net in 2005. Other investors included Northgate Capital, Kleiner Perkins Caufield & Byers and Google. The company moved its headquarters to San Jose in 2016.
The first large pilot deployment was started in 2007 with Florida Power & Light (FPL) in southern Florida. In 2008, Pacific Gas and Electric Company (PG&E) signed an agreement to provide the company's smart meters, and remained the largest customer for at least several years. On July 7, 2011, Silver Spring Networks filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $150 million in an initial public offering. Silver Spring Networks went public under the listing symbol SSNI on the New York Stock Exchange on March 13, 2013, raising about $81 million.
Silver Spring Networks develops equipment that creates wireless mesh networks and transmits energy consumption data between meters, consumers and utilities in real time. The software indicates how much money is spent on electricity and indicates how much can be saved if one switches to energy-efficient models. The meters in the PG&E deployment include two radios: one in the unlicensed ISM band of 902 to 928 MHz for communication back to the utility provider, and another intended for future communication to a home network. The technology has low bit rate requirements, but also needs to be very low cost.
Silver Spring is a partner with more than 40 companies and provides additional applications to utilities and customers on the Smart Energy Platform like smart thermostats, in-home displays, and electric vehicle (EV) charging technology.
Silver Spring began its technology offering with a smart grid network based on Internet Protocol (IP) technology, which was advocated for the smart grid by the U.S. Federal Communications Commission (FCC) and other smart grid experts. Silver Spring expanded on the network to smart grid application software that includes demand response (DR), demand management and other services for utilities and their customers.
In October 2009 Silver Spring acquired Greenbox Technology, and developed its web-based software into a product called CustomerIQ. In an Oklahoma Gas & Electric pilot program involving 2,500 homes in the summer of 2010 on Silver Spring’s Smart Energy Platform, participants saw an average energy use drop of up to 33 percent during the highest price periods. The pilot consisted of several groups using Silver Spring’s web-based energy management solution as well as smart thermostats and in-home energy displays on various dynamic pricing schemes.
2016-06-30 | Upgrade | Raymond James | Outperform to Strong-Buy | $16.00 |
2016-06-30 | Upgrade | Raymond James Financial Inc. | Outperform to Strong-Buy | $16.00 |
2016-06-04 | Reiterated Rating | KeyBanc | Buy | |
2016-06-04 | Reiterated Rating | KeyCorp | Buy | |
2016-05-10 | Reiterated Rating | Oppenheimer | Buy | |
2016-05-10 | Reiterated Rating | Oppenheimer Holdings Inc. | Buy | |
2016-05-02 | Reiterated Rating | Oppenheimer | Buy | |
2016-05-02 | Reiterated Rating | Canaccord Genuity | Hold | |
2016-03-29 | Reiterated Rating | Oppenheimer | Outperform | $15.00 |
2016-03-28 | Initiated Coverage | Avondale Partners | Outperform | $16.00 |
2016-02-11 | Reiterated Rating | Canaccord Genuity | Hold | $13.00 |
2016-02-09 | Reiterated Rating | Oppenheimer | Outperform | $15.00 |
2016-02-09 | Lower Price Target | Wunderlich | Buy | $18.00 to $16.00 |
2016-01-07 | Reiterated Rating | Pacific Crest | Buy | $17.00 |
2016-01-05 | Boost Price Target | Raymond James | $15.00 to $16.00 | |
2015-12-03 | Initiated Coverage | Wunderlich | Buy | $17.00 |
2015-11-04 | Reiterated Rating | Pacific Crest | Buy | $16.00 to $17.00 |
2015-11-04 | Boost Price Target | Cowen and Company | $15.00 to $17.00 | |
2015-11-04 | Boost Price Target | Canaccord Genuity | $11.50 to $13.00 | |
2015-11-02 | Lower Price Target | Piper Jaffray | Neutral | $10.00 to $9.00 |
2015-11-02 | Lower Price Target | Cowen and Company | Outperform | $13.00 to $11.00 |
2015-11-02 | Lower Price Target | Piper Jaffray Cos. | Neutral | $10.00 to $9.00 |
2015-10-30 | Reiterated Rating | Canaccord Genuity | Hold | $11.50 |
2015-09-10 | Initiated Coverage | Oppenheimer | Outperform | $15.00 |
2015-09-08 | Upgrade | KeyBanc | Sector Weight to Overweight | |
2015-09-08 | Upgrade | Pacific Crest | Overweight | $16.00 |
2015-08-06 | Reiterated Rating | Cowen and Company | Outperform | $13.00 to $15.00 |
2015-08-06 | Boost Price Target | Robert W. Baird | Neutral | $10.00 to $12.00 |
2015-08-06 | Boost Price Target | Canaccord Genuity | Hold | $10.50 to $11.50 |
2015-06-18 | Boost Price Target | Northland Securities | Outperform | $12.00 to $16.00 |
2015-05-18 | Boost Price Target | Stifel Nicolaus | Buy | $15.00 to $16.00 |
2015-05-08 | Set Price Target | Canaccord Genuity | Hold | $10.50 |
2015-05-08 | Boost Price Target | Stifel Nicolaus | Buy | $13.00 to $15.00 |
2015-04-29 | Boost Price Target | Northland Securities | Positive to Outperform | $10.00 to $12.00 |
2015-02-10 | Set Price Target | Credit Suisse | Hold | $11.00 |
2015-02-10 | Lower Price Target | Stifel Nicolaus | Buy | $15.00 to $13.00 |
2015-02-10 | Lower Price Target | Northland Securities | Outperform | $12.00 to $10.00 |
2015-02-10 | Set Price Target | Credit Suisse Group AG | Hold | $11.00 |
2015-02-06 | Reiterated Rating | Canaccord Genuity | Hold | $9.00 |
2014-11-06 | Reiterated Rating | Canaccord Genuity | Hold | $11.00 to $9.50 |
2014-10-23 | Reiterated Rating | Canaccord Genuity | Hold | $13.00 to $11.00 |
2014-10-08 | Downgrade | Goldman Sachs | Buy to Neutral | $18.00 to $12.00 |
2014-10-08 | Downgrade | Goldman Sachs Group Inc. | Buy to Neutral | $18.00 to $12.00 |
2014-10-02 | Initiated Coverage | Raymond James | Outperform | $13.00 |
2014-09-17 | Lower Price Target | Goldman Sachs | $21.00 to $18.00 | |
2014-09-11 | Initiated Coverage | Cowen and Company | Outperform | $14.00 |
2014-08-12 | Initiated | Northland Capital | Outperform | $12 |
2014-08-12 | Initiated Coverage | Northland Securities | Outperform | $12.00 |
2014-08-07 | Reiterated Rating | Evercore ISI | Overweight | $18.00 to $16.00 |
2014-08-07 | Lower Price Target | Piper Jaffray | $14.00 to $12.00 | |
2014-05-28 | Initiated Coverage | Stifel Nicolaus | Buy | $16.00 |
2014-05-09 | Lower Price Target | Canaccord Genuity | $18.00 to $13.00 | |
2014-05-07 | Reiterated Rating | Credit Suisse | Neutral | $20.00 to $16.00 |
2014-05-07 | Lower Price Target | Evercore ISI | Overweight | $20.00 to $18.00 |
2014-03-12 | Boost Price Target | Goldman Sachs | Buy | $23.00 to $25.00 |
2014-02-12 | Reiterated Rating | Canaccord Genuity | Hold | $20.00 to $18.00 |
2014-02-11 | Lower Price Target | Robert W. Baird | $17.00 to $15.00 | |
2014-02-11 | Lower Price Target | Piper Jaffray | $20.00 to $14.00 | |
2014-01-17 | Downgrade | Credit Suisse | Outperform to Neutral | $26.00 to $23.00 |
2014-01-17 | Lower Price Target | Stifel Nicolaus | $30.00 to $25.00 | |
2014-01-17 | Lower Price Target | Evercore ISI | $28.00 to $20.00 | |
2014-01-17 | Lower Price Target | Canaccord Genuity | Hold | $25.00 to $20.00 |
2014-01-17 | Downgrade | Robert W. Baird | Outperform to Neutral | $32.00 to $17.00 |
2013-10-31 | Lower Price Target | Piper Jaffray | Neutral | $26.00 to $20.00 |
2013-09-25 | Upgrade | Goldman Sachs | Neutral to Buy | $26.00 |
2016-06-30 | Upgrade | Raymond James | Outperform to Strong-Buy | $16.00 |
2016-06-30 | Upgrade | Raymond James Financial Inc. | Outperform to Strong-Buy | $16.00 |
2016-06-04 | Reiterated Rating | KeyBanc | Buy | |
2016-06-04 | Reiterated Rating | KeyCorp | Buy | |
2016-05-10 | Reiterated Rating | Oppenheimer | Buy |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In SSNI 14 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
BlackRock Fund Advisors | 1.13M |
BlackRock Institutional Trust Company, N.A. | 0.99M |
DELTA LLOYD NV | 0.25M |
BlackRock Investment Management, LLC | 0.14M |
BRIGHTFIELD CAPITAL MANAGEMENT LLC | 0.10M |
PORTOLA GROUP INC /CA | 83300 |
MANAGED ACCOUNT ADVISORS LLC | 82744 |
RUSSELL FRANK CO/ | 56300 |
BLACKROCK ADVISORS LLC | 46506 |
RobecoSam USA, Inc. | 35500 |
Shinko Asset Management Co., Ltd. | 24912 |
BlackRock Group LTD | 24366 |
BlackRock Japan Co. Ltd | 1766 |
MetLife Securities, Inc | 200 |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
Dresselhuys Eric P. EVP, Global Development | 0.16% (76163) | SSNI / |
JOYCE JOHN R Vice Chairman | 0.13% (63967) | SSNI / |
Middleton Daniel J. EVP, US & AUS/NZL Sales | 0.07% (31656) | SSNI / |
Burns James P. EVP, Chief Financial Officer | 0.06% (31162) | SSNI / |
MCNEILL CORBIN A JR | 0.05% (22899) | OI / POR / SSNI / |
Gadre Anil P EVP, Products and Marketing | 0.03% (13523) | SSNI / |
Kalinowski Carrie J. VP, Finance & Corp. Controller | 0.03% (12932) | SSNI / |
Cappellanti-Wolf Amy L. Chief Human Resources Officer | 0.02% (10746) | SSNI / SYMC / |
Gianella Kenneth P. Chief Financial Officer | 0.01% (5968) | SSNI / |