Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Sells $106,438.72 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Martin Francis Bernstein sold 7,792 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.66, for a total transaction of $106,438.72. Following the completion of the transaction, the director now owns 55,664 shares of the company’s stock, valued at approximately $760,370.24. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Martin Francis Bernstein also recently made the following trade(s):

• On Friday, September 13th, Martin Francis Bernstein sold 6,036 shares of Synchronoss Technologies stock. The shares were sold at an average price of $14.14, for a total transaction of $85,349.04.
• On Monday, September 9th, Martin Francis Bernstein sold 2,319 shares of Synchronoss Technologies stock. The shares were sold at an average price of $14.20, for a total transaction of $32,929.80.

Synchronoss Technologies Trading Up 2.4 %

Shares of Synchronoss Technologies stock opened at $14.00 on Monday. The stock has a market capitalization of $151.48 million, a P/E ratio of -2.78 and a beta of 1.95. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 6.68. The company has a 50-day simple moving average of $11.62 and a 200 day simple moving average of $9.59. Synchronoss Technologies, Inc. has a 12-month low of $2.70 and a 12-month high of $15.45.

Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Tuesday, August 6th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.39. The business had revenue of $43.46 million during the quarter, compared to analysts’ expectations of $43.09 million. Synchronoss Technologies had a negative net margin of 16.97% and a positive return on equity of 28.60%. Research analysts expect that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Institutional Investors Weigh In On Synchronoss Technologies

A number of hedge funds have recently made changes to their positions in the company. Bouvel Investment Partners LLC increased its position in shares of Synchronoss Technologies by 3.4% during the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after purchasing an additional 2,518 shares in the last quarter. Renaissance Technologies LLC increased its position in Synchronoss Technologies by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after acquiring an additional 6,700 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $89,000. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 20,368 shares in the last quarter. Finally, AWM Investment Company Inc. increased its position in Synchronoss Technologies by 8.5% in the 1st quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after acquiring an additional 41,824 shares in the last quarter. Institutional investors and hedge funds own 51.71% 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.