Synchronoss Technologies (NASDAQ:SNCR) Upgraded at Roth Mkm

Roth Mkm upgraded shares of Synchronoss Technologies (NASDAQ:SNCR) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. The brokerage currently has $13.00 price target on the software maker’s stock, up from their previous price target of $11.00.

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

Synchronoss Technologies Stock Performance

Synchronoss Technologies stock opened at $9.81 on Monday. 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 has a twelve month low of $3.55 and a twelve month high of $15.46. The company’s 50-day moving average price is $11.54 and its 200-day moving average price is $10.86. The company has a market cap of $106.34 million, a PE ratio of -2.45 and a beta of 1.99.

Insider Buying and Selling at Synchronoss Technologies

In related news, Director Martin Francis Bernstein sold 2,319 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $14.20, for a total transaction of $32,929.80. Following the completion of the sale, the director now directly owns 63,456 shares of the company’s stock, valued at approximately $901,075.20. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick Joseph Doran sold 3,250 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $14.77, for a total value of $48,002.50. Following the completion of the transaction, the executive vice president now directly owns 107,483 shares in the company, valued at $1,587,523.91. This trade represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,165 shares of company stock worth $513,165 over the last quarter. Insiders own 17.90% of the company’s stock.

Institutional Trading of Synchronoss Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in 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 worth $8,395,000 after buying an additional 13,984 shares during the period. Geode Capital Management LLC grew its stake in Synchronoss Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker’s stock worth $1,557,000 after acquiring an additional 4,159 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Synchronoss Technologies by 9.3% during the second 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 during the period. Dimensional Fund Advisors LP increased its position in shares of Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after acquiring an additional 20,368 shares during the period. Finally, State Street Corp raised its stake in shares of Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after acquiring an additional 4,000 shares in the last quarter. 51.71% of the stock is currently owned by institutional investors.

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.