Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder B. Riley Financial, Inc. Sells 3,699 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 3,699 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $12.80, for a total transaction of $47,347.20. Following the completion of the sale, the insider now owns 1,036,605 shares of the company’s stock, valued at $13,268,544. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

• On Monday, August 19th, B. Riley Financial, Inc. sold 40,713 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.12, for a total transaction of $493,441.56.
• On Friday, August 16th, B. Riley Financial, Inc. sold 23,290 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.83, for a total transaction of $275,520.70.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.73, for a total transaction of $723,623.70.
• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.48, for a total transaction of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.45, for a total transaction of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.20, for a total transaction of $5,824.00.

Synchronoss Technologies Stock Down 1.7 %

Shares of SNCR opened at $12.42 on Friday. Synchronoss Technologies, Inc. has a 12 month low of $2.70 and a 12 month high of $13.97. The firm’s 50 day moving average is $9.90 and its 200-day moving average is $8.98. The stock has a market capitalization of $134.04 million, a PE ratio of -2.46 and a beta of 1.92. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. increased its stake in Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after acquiring an additional 41,824 shares during the last quarter. Renaissance Technologies LLC increased its stake in 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 acquiring an additional 6,700 shares during the last quarter. Bouvel Investment Partners LLC increased 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 acquiring an additional 2,518 shares during the last quarter. Dimensional Fund Advisors LP increased 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 acquiring an additional 20,368 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in Synchronoss Technologies in the fourth quarter valued at approximately $89,000. 51.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

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.