Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Sells $78,444.80 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Lou Ferraro sold 5,768 shares of Synchronoss Technologies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.60, for a total value of $78,444.80. Following the sale, the chief financial officer now owns 83,556 shares in the company, valued at $1,136,361.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Synchronoss Technologies Stock Up 2.4 %

Shares of SNCR traded up $0.33 during midday trading on Friday, hitting $14.00. The company had a trading volume of 98,761 shares, compared to its average volume of 80,871. The stock has a market cap of $151.48 million, a price-to-earnings ratio of -2.78 and a beta of 1.95. The company’s 50 day moving average price is $11.62 and its 200 day moving average price is $9.59. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 6.68. Synchronoss Technologies, Inc. has a 52 week low of $2.70 and a 52 week high of $15.45.

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

Institutional Investors Weigh In On Synchronoss Technologies

Institutional investors have recently made changes to their positions in the company. Bouvel Investment Partners LLC boosted its holdings in Synchronoss Technologies by 3.4% in the first 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 during the period. Victory Capital Management Inc. bought a new position in shares of Synchronoss Technologies in the 4th quarter worth about $89,000. Dimensional Fund Advisors LP boosted 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 buying an additional 20,368 shares during the period. Renaissance Technologies LLC grew its position in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after buying an additional 6,700 shares during the last quarter. Finally, AWM Investment Company Inc. raised its stake 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 acquiring an additional 41,824 shares during the period. 51.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.