Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Laurie Harris Sells 4,800 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Laurie Harris sold 4,800 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $7.00, for a total value of $33,600.00. Following the completion of the transaction, the director now directly owns 47,632 shares of the company’s stock, valued at $333,424. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Synchronoss Technologies Stock Down 1.1%

SNCR stock opened at $6.92 on Thursday. Synchronoss Technologies, Inc. has a 52 week low of $6.31 and a 52 week high of $15.46. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The firm’s 50-day moving average is $8.97 and its two-hundred day moving average is $9.50. The company has a market capitalization of $79.57 million, a price-to-earnings ratio of -1.78 and a beta of 1.75.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. On average, analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNCR. Allspring Global Investments Holdings LLC grew its holdings in shares of Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker’s stock worth $5,468,000 after acquiring an additional 11,023 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Synchronoss Technologies by 22.6% in the 4th 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. Geode Capital Management LLC raised its holdings in Synchronoss Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock worth $1,022,000 after buying an additional 1,851 shares during the period. American Century Companies Inc. purchased a new stake in Synchronoss Technologies during the fourth quarter valued at about $103,000. Finally, LSV Asset Management purchased a new stake in Synchronoss Technologies during the fourth quarter valued at about $400,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analysts Set New Price Targets

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

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.