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 Synchronoss Technologies stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total transaction of $162,000.00. Following the transaction, the chief executive officer now owns 284,462 shares in the company, valued at approximately $3,840,237. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Synchronoss Technologies Stock Up 2.4 %

SNCR stock opened at $14.00 on Friday. The business’s 50-day moving average price is $11.62 and its 200-day moving average price is $9.59. The stock has a market cap of $151.48 million, a P/E ratio of -2.78 and a beta of 1.95. 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 twelve month low of $2.70 and a twelve month high of $15.45.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in Synchronoss Technologies in the 4th quarter worth approximately $89,000. Dimensional Fund Advisors LP lifted its stake 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 worth $654,000 after purchasing an additional 20,368 shares in the last quarter. Bouvel Investment Partners LLC boosted its stake in 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 buying an additional 2,518 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Synchronoss Technologies by 9.3% during the second 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. boosted 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 valued at $4,435,000 after buying an additional 41,824 shares during the last quarter. Institutional investors own 51.71% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report 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.