Allspring Global Investments Holdings LLC Sells 4,712,087 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Allspring Global Investments Holdings LLC trimmed its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 88.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 590,372 shares of the software maker’s stock after selling 4,712,087 shares during the period. Allspring Global Investments Holdings LLC owned 5.69% of Synchronoss Technologies worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SNCR. Jane Street Group LLC lifted its position in shares of Synchronoss Technologies by 52.7% during the 3rd quarter. Jane Street Group LLC now owns 48,159 shares of the software maker’s stock valued at $55,000 after acquiring an additional 16,630 shares during the period. Millennium Management LLC grew its stake in Synchronoss Technologies by 6.1% during the second quarter. Millennium Management LLC now owns 415,725 shares of the software maker’s stock worth $478,000 after buying an additional 24,015 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Synchronoss Technologies by 25.7% in the 2nd quarter. Citadel Advisors LLC now owns 118,979 shares of the software maker’s stock valued at $111,000 after buying an additional 24,307 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Synchronoss Technologies during the 2nd quarter worth approximately $30,000. Finally, Renaissance Technologies LLC boosted its position in shares of Synchronoss Technologies by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 454,327 shares of the software maker’s stock worth $422,000 after acquiring an additional 27,300 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

Shares of SNCR opened at $6.31 on Friday. The firm has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $6.49. The company has a debt-to-equity ratio of 5.11, a quick ratio of 1.72 and a current ratio of 1.72. Synchronoss Technologies, Inc. has a one year low of $2.70 and a one year high of $13.97.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, March 12th. The software maker reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.71). Synchronoss Technologies had a negative return on equity of 17.99% and a negative net margin of 25.43%. The business had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.76 million. On average, equities research analysts anticipate that Synchronoss Technologies, Inc. will post -2.06 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Patrick Joseph Doran sold 2,750 shares of Synchronoss Technologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.33, for a total transaction of $25,657.50. Following the sale, the executive vice president now directly owns 69,308 shares of the company’s stock, valued at $646,643.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Patrick Joseph Doran sold 2,750 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.33, for a total transaction of $25,657.50. Following the completion of the transaction, the executive vice president now owns 69,308 shares of the company’s stock, valued at $646,643.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin Rendino acquired 5,000 shares of Synchronoss Technologies stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average cost of $9.30 per share, for a total transaction of $46,500.00. Following the purchase, the director now owns 888,892 shares of the company’s stock, valued at $8,266,695.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 7,490 shares of company stock valued at $59,307. 6.90% of the stock is currently owned by insiders.

Synchronoss Technologies 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.