Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Sells $32,929.80 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Martin Francis Bernstein sold 2,319 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $14.20, for a total transaction of $32,929.80. Following the completion of the transaction, the director now directly owns 63,456 shares in the company, valued at $901,075.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Martin Francis Bernstein also recently made the following trade(s):

• On Friday, September 13th, Martin Francis Bernstein sold 6,036 shares of Synchronoss Technologies stock. The stock was sold at an average price of $14.14, for a total value of $85,349.04.
• On Wednesday, September 11th, Martin Francis Bernstein sold 7,792 shares of Synchronoss Technologies stock. The shares were sold at an average price of $13.66, for a total value of $106,438.72.

Synchronoss Technologies Stock Up 2.4 %

Shares of NASDAQ SNCR opened at $14.00 on Friday. Synchronoss Technologies, Inc. has a 52-week low of $2.70 and a 52-week high of $15.45. The company has a debt-to-equity ratio of 6.68, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market cap of $151.48 million, a P/E ratio of -2.78 and a beta of 1.95. The firm has a 50 day moving average price of $11.62 and a 200 day moving average price of $9.59.

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

Institutional Investors Weigh In On Synchronoss Technologies

Several large investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in shares of Synchronoss Technologies in the 4th quarter valued at approximately $89,000. Bouvel Investment Partners LLC lifted its stake in Synchronoss Technologies by 3.4% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after buying an additional 20,368 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Synchronoss Technologies by 9.3% in 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 period. Finally, AWM Investment Company Inc. increased its position 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 worth $4,435,000 after acquiring an additional 41,824 shares in the last quarter. 51.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered 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.