Synchronoss Technologies (NASDAQ:SNCR) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.69 and traded as high as $11.80. Synchronoss Technologies shares last traded at $11.07, with a volume of 85,550 shares.

Analyst Upgrades and Downgrades

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

Synchronoss Technologies Trading Down 4.7 %

The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68. The firm has a market capitalization of $119.76 million, a P/E ratio of -2.87 and a beta of 1.99. The business has a 50 day moving average of $12.40 and a 200-day moving average of $10.72.

Insiders Place Their Bets

In other Synchronoss Technologies news, Director Martin Francis Bernstein sold 6,036 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $14.14, for a total transaction of $85,349.04. Following the sale, the director now directly owns 48,498 shares of the company’s stock, valued at approximately $685,761.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder B. Riley Financial, Inc. sold 40,713 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.12, for a total transaction of $493,441.56. Following the transaction, the insider now directly owns 1,048,741 shares of the company’s stock, valued at approximately $12,710,740.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Francis Bernstein sold 6,036 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $14.14, for a total value of $85,349.04. Following the completion of the sale, the director now owns 48,498 shares of the company’s stock, valued at approximately $685,761.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,364 shares of company stock valued at $1,874,939 in the last quarter. 17.90% of the stock is currently owned by insiders.

Institutional Trading of Synchronoss Technologies

A number of institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. raised 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 purchasing an additional 41,824 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Synchronoss Technologies by 40.6% in the 2nd 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 during the period. Allspring Global Investments Holdings LLC raised its position in shares of Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock valued at $8,395,000 after buying an additional 13,984 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Synchronoss Technologies during the 3rd quarter worth approximately $165,000. Finally, Renaissance Technologies LLC boosted its position in shares of Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after acquiring an additional 6,700 shares in the last quarter. 51.71% of the stock is currently owned by institutional investors.

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.