StockNews.com Downgrades Synchronoss Technologies (NASDAQ:SNCR) to Hold

StockNews.com downgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a buy rating to a hold rating in a report published on Friday.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR opened at $11.79 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.78 and a debt-to-equity ratio of 6.68. The firm has a market cap of $127.24 million, a PE ratio of -2.34 and a beta of 1.92. The company’s 50 day moving average price is $9.57 and its two-hundred day moving average price is $8.86. Synchronoss Technologies has a 12-month low of $2.70 and a 12-month high of $13.97.

Insider Buying and Selling at Synchronoss Technologies

In related news, major shareholder B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $11.73, for a total value of $723,623.70. Following the transaction, the insider now directly owns 1,168,217 shares of the company’s stock, valued at $13,703,185.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 150,543 shares of company stock valued at $1,741,787 in the last ninety days. 17.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNCR. Victory Capital Management Inc. bought a new position in Synchronoss Technologies in the 4th quarter valued at approximately $89,000. Bouvel Investment Partners LLC boosted its holdings in shares of Synchronoss Technologies by 3.4% during 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after acquiring an additional 20,368 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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, AWM Investment Company Inc. boosted its stake in shares of Synchronoss Technologies by 8.5% during the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after purchasing an additional 41,824 shares in the last quarter. Institutional investors own 51.71% of the company’s stock.

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.