Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder Sells $723,623.70 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 61,690 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $11.73, for a total transaction of $723,623.70. Following the completion of the transaction, the insider now owns 1,168,217 shares of the company’s stock, valued at $13,703,185.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.48, for a total value of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.45, for a total value of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.20, for a total value of $5,824.00.

Synchronoss Technologies Stock Down 0.9 %

NASDAQ SNCR opened at $11.79 on Friday. Synchronoss Technologies, Inc. has a 12 month low of $2.70 and a 12 month high of $13.97. The company has a market capitalization of $127.21 million, a P/E ratio of -2.34 and a beta of 1.92. The company’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $8.82. The company has a debt-to-equity ratio of 6.02, a current ratio of 1.85 and a quick ratio of 1.85.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNCR. AWM Investment Company Inc. lifted its position in shares of Synchronoss Technologies by 8.5% during the 1st quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after acquiring an additional 41,824 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after purchasing an additional 20,368 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Synchronoss Technologies in the 4th quarter valued at $89,000. Renaissance Technologies LLC increased its stake in Synchronoss Technologies by 9.3% in 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, Bouvel Investment Partners LLC increased its stake in Synchronoss Technologies by 3.4% in the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after purchasing an additional 2,518 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

About Synchronoss Technologies

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.