Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller Sells 8,004 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 8,004 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $6.99, for a total value of $55,947.96. Following the completion of the transaction, the chief executive officer now owns 437,560 shares in the company, valued at approximately $3,058,544.40. The trade was a 1.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, June 6th, Jeffrey George Miller sold 7,913 shares of Synchronoss Technologies stock. The shares were sold at an average price of $7.06, for a total value of $55,865.78.
• On Thursday, May 1st, Jeffrey George Miller sold 6,289 shares of Synchronoss Technologies stock. The stock was 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 stock was sold at an average price of $10.50, for a total value of $73,279.50.

Synchronoss Technologies Stock Down 1.1%

SNCR opened at $6.99 on Tuesday. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $9.46. The stock has a market capitalization of $80.37 million, a P/E ratio of -1.80 and a beta of 1.75. Synchronoss Technologies, Inc. has a 12 month low of $6.31 and a 12 month high of $15.46.

Synchronoss Technologies (NASDAQ:SNCR) last issued its quarterly earnings data 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 return on equity of 10.99% and a negative net margin of 20.00%. On average, equities analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Synchronoss Technologies by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after buying an additional 11,023 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Synchronoss Technologies by 22.6% during the fourth quarter. JPMorgan Chase & Co. now owns 72,107 shares of the software maker’s stock worth $692,000 after purchasing an additional 13,310 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Synchronoss Technologies during the fourth quarter worth about $404,000. Geode Capital Management LLC raised its position in shares of Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock valued at $1,022,000 after purchasing an additional 1,851 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth approximately $103,000. 51.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.