StockNews.com Downgrades Synchronoss Technologies (NASDAQ:SNCR) to Hold

StockNews.com lowered shares of Synchronoss Technologies (NASDAQ:SNCR) from a buy rating to a hold rating in a research note issued to investors on Friday.

Synchronoss Technologies Price Performance

Shares of NASDAQ:SNCR traded down $0.11 during trading on Friday, hitting $11.79. 64,274 shares of the stock were exchanged, compared to its average volume of 73,534. The company has a market cap of $127.21 million, a PE ratio of -2.34 and a beta of 1.92. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 6.02. The company has a fifty day moving average price of $9.51 and a two-hundred day moving average price of $8.82. Synchronoss Technologies has a 12-month low of $2.70 and a 12-month high of $13.97.

Insiders Place Their Bets

In other news, major shareholder B. Riley Financial, Inc. sold 61,690 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $11.73, for a total value of $723,623.70. Following the sale, the insider now directly owns 1,168,217 shares in the company, valued at $13,703,185.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 150,543 shares of company stock valued at $1,741,787. Corporate insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in Synchronoss Technologies during the fourth quarter valued at about $89,000. Bouvel Investment Partners LLC lifted its stake in shares of Synchronoss Technologies by 3.4% in the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock valued at $642,000 after purchasing an additional 2,518 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after purchasing an additional 20,368 shares during the period. Renaissance Technologies LLC increased its position in Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after purchasing an additional 6,700 shares in the last quarter. Finally, AWM Investment Company Inc. raised its holdings in Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after buying an additional 41,824 shares during the period. 51.71% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.