Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $55,865.78 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 7,913 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $7.06, for a total value of $55,865.78. Following the transaction, the chief executive officer now owns 429,647 shares in the company, valued at $3,033,307.82. This represents a 1.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jeffrey George Miller also recently made the following trade(s):

• On Thursday, May 1st, Jeffrey George Miller sold 6,289 shares of Synchronoss Technologies stock. The shares were sold at an average price of $10.22, for a total value of $64,273.58.
• On Wednesday, April 23rd, Jeffrey George Miller sold 6,979 shares of Synchronoss Technologies stock. The shares were sold at an average price of $10.50, for a total transaction of $73,279.50.

Synchronoss Technologies Stock Up 2.3%

Synchronoss Technologies stock opened at $7.07 on Monday. The stock has a 50 day moving average of $8.81 and a two-hundred day moving average of $9.48. Synchronoss Technologies, Inc. has a twelve month low of $6.31 and a twelve month high of $15.46. The stock has a market capitalization of $81.29 million, a price-to-earnings ratio of -1.82 and a beta of 1.75. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.75. The firm had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. As a group, research analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Synchronoss Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies during the fourth quarter worth $98,000. American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies during the fourth quarter valued at approximately $103,000. Barclays PLC boosted its position in Synchronoss Technologies by 156.8% during the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker’s stock worth $141,000 after acquiring an additional 8,992 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in Synchronoss Technologies in the 4th quarter worth approximately $158,000. Finally, Ancora Advisors LLC acquired a new position in Synchronoss Technologies in the 4th quarter valued at $163,000. 51.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

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.