Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $162,000.00 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 12,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the transaction, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Synchronoss Technologies Stock Up 2.4 %

SNCR stock opened at $14.00 on Friday. Synchronoss Technologies, Inc. has a one year low of $2.70 and a one year high of $15.45. The firm has a market cap of $151.09 million, a PE ratio of -2.78 and a beta of 1.95. The firm’s 50 day moving average price is $11.62 and its 200-day moving average price is $9.59. The company has a debt-to-equity ratio of 6.68, a quick ratio of 1.78 and a current ratio of 1.78.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bouvel Investment Partners LLC increased its position in shares of Synchronoss Technologies by 3.4% during the first 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 last quarter. Victory Capital Management Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter worth approximately $89,000. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 20,368 shares during the last quarter. Renaissance Technologies LLC raised its position in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after purchasing an additional 6,700 shares during the period. Finally, AWM Investment Company Inc. lifted 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 purchasing an additional 41,824 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.