Synchronoss Technologies, Inc. (NASDAQ:SNCR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 5.7% during the first quarter, Holdings Channel reports. The fund owned 556,544 shares of the software maker’s stock after selling 33,828 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of Synchronoss Technologies worth $4,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Personal Financial Services acquired a new stake in shares of Synchronoss Technologies in the fourth quarter worth $25,000. Victory Capital Management Inc. purchased a new stake in Synchronoss Technologies during the fourth quarter worth $89,000. Finally, Bouvel Investment Partners LLC boosted its holdings in Synchronoss Technologies by 3.4% during the first quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after buying an additional 2,518 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Synchronoss Technologies Stock Performance

NASDAQ SNCR traded down $0.27 during mid-day trading on Tuesday, reaching $9.07. 1,758 shares of the stock were exchanged, compared to its average volume of 77,287. The business’s 50 day moving average is $8.38 and its 200-day moving average is $7.83. Synchronoss Technologies, Inc. has a 1 year low of $2.70 and a 1 year high of $13.97. The company has a market capitalization of $97.88 million, a P/E ratio of -1.85 and a beta of 1.92. The company has a debt-to-equity ratio of 5.70, a quick ratio of 1.85 and a current ratio of 1.85.

Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Tuesday, May 7th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.91. Synchronoss Technologies had a negative net margin of 19.60% and a positive return on equity of 10.93%. The firm had revenue of $42.97 million for the quarter, compared to the consensus estimate of $41.52 million. On average, equities research analysts forecast that Synchronoss Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, Director Laurie Harris sold 4,809 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $6.45, for a total transaction of $31,018.05. Following the transaction, the director now directly owns 42,319 shares of the company’s stock, valued at $272,957.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 12,918 shares of company stock valued at $85,372 over the last ninety days. Corporate insiders own 17.90% of the company’s stock.

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.