Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells 17,389 Shares of Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 17,389 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $10.34, for a total transaction of $179,802.26. Following the transaction, the chief executive officer now owns 336,232 shares of the company’s stock, valued at approximately $3,476,638.88. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Synchronoss Technologies Stock Down 1.1 %

NASDAQ:SNCR traded down $0.11 on Monday, hitting $9.50. The stock had a trading volume of 34,450 shares, compared to its average volume of 49,939. Synchronoss Technologies, Inc. has a 1 year low of $6.02 and a 1 year high of $15.46. The firm’s fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $11.01. The stock has a market cap of $102.98 million, a P/E ratio of -2.45 and a beta of 1.99. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock worth $8,395,000 after purchasing an additional 13,984 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Synchronoss Technologies in the third quarter valued at $165,000. State Street Corp lifted its position in shares of Synchronoss Technologies by 12.9% during the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after buying an additional 4,000 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Synchronoss Technologies during the 3rd quarter valued at $237,000. Finally, Barclays PLC grew its stake in shares of Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after acquiring an additional 4,919 shares during the period. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SNCR shares. Roth Capital raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th. Roth Mkm upgraded Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $13.00 in a report on Monday, November 25th.

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.