Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder B. Riley Financial, Inc. Sells 9,819 Shares of Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 9,819 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $12.82, for a total transaction of $125,879.58. Following the sale, the insider now owns 1,026,712 shares of the company’s stock, valued at $13,162,447.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, August 26th, B. Riley Financial, Inc. sold 32,678 shares of Synchronoss Technologies stock. The stock was sold at an average price of $12.84, for a total transaction of $419,585.52.
• On Wednesday, August 21st, B. Riley Financial, Inc. sold 3,699 shares of Synchronoss Technologies stock. The stock was sold at an average price of $12.80, for a total transaction of $47,347.20.
• On Monday, August 19th, B. Riley Financial, Inc. sold 40,713 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.12, for a total transaction of $493,441.56.
• On Friday, August 16th, B. Riley Financial, Inc. sold 23,290 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.83, for a total transaction of $275,520.70.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.73, for a total transaction of $723,623.70.
• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.48, for a total transaction 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 transaction 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 transaction of $5,824.00.

Synchronoss Technologies Stock Up 7.2 %

Shares of Synchronoss Technologies stock opened at $13.75 on Wednesday. Synchronoss Technologies, Inc. has a 52-week low of $2.70 and a 52-week high of $14.00. The company has a 50 day moving average of $10.21 and a 200 day moving average of $9.16. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 6.68. The company has a market capitalization of $148.39 million, a P/E ratio of -2.73 and a beta of 1.92.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings results on Tuesday, August 6th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.39. Synchronoss Technologies had a negative net margin of 16.97% and a positive return on equity of 28.60%. The company had revenue of $43.46 million during the quarter, compared to the consensus estimate of $43.09 million. As a group, research analysts forecast that Synchronoss Technologies, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Institutional Trading of Synchronoss Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNCR. AWM Investment Company Inc. raised its holdings in Synchronoss Technologies by 8.5% during the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock worth $4,435,000 after purchasing an additional 41,824 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after acquiring an additional 20,368 shares during the period. 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 holdings in shares of Synchronoss Technologies by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after acquiring an additional 6,700 shares during the period. Finally, Bouvel Investment Partners LLC increased its holdings 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 acquiring an additional 2,518 shares during the period. 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.