Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $179,802.26 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 17,389 shares of the company’s stock in a transaction dated 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 $3,476,638.88. This represents a 4.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Synchronoss Technologies Stock Performance

Shares of SNCR opened at $9.30 on Wednesday. The firm has a 50-day moving average price of $9.55 and a 200 day moving average price of $10.98. The firm has a market capitalization of $100.80 million, a PE ratio of -2.40 and a beta of 1.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. Synchronoss Technologies, Inc. has a 52-week low of $6.02 and a 52-week high of $15.46.

Hedge Funds Weigh In On Synchronoss Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in Synchronoss Technologies by 603.6% in the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after buying an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $98,000. American Century Companies Inc. acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $103,000. Integrated Quantitative Investments LLC acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $158,000. Finally, Ancora Advisors LLC acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $163,000. Institutional investors own 51.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNCR. Roth Capital upgraded shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 25th. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a research report on Monday, November 25th.

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.