Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Sells $85,349.04 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) 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 transaction, the director now owns 48,498 shares of the company’s stock, valued at $685,761.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 11th, Martin Francis Bernstein sold 7,792 shares of Synchronoss Technologies stock. The shares were sold at an average price of $13.66, for a total transaction of $106,438.72.
• On Monday, September 9th, Martin Francis Bernstein sold 2,319 shares of Synchronoss Technologies stock. The stock was sold at an average price of $14.20, for a total transaction of $32,929.80.

Synchronoss Technologies Trading Up 2.4 %

NASDAQ SNCR opened at $14.00 on Monday. The stock’s 50 day moving average price is $11.62 and its two-hundred day moving average price is $9.59. The company has a debt-to-equity ratio of 6.68, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $151.48 million, a price-to-earnings ratio of -2.78 and a beta of 1.95. Synchronoss Technologies, Inc. has a 52 week low of $2.70 and a 52 week high of $15.45.

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

Institutional Investors Weigh In On Synchronoss Technologies

Several large investors have recently made changes to their positions in SNCR. AWM Investment Company Inc. raised its holdings in shares of 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 purchasing an additional 41,824 shares during the period. Dimensional Fund Advisors LP raised its stake in Synchronoss Technologies by 40.6% in the second 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. Victory Capital Management Inc. acquired a new stake in shares of Synchronoss Technologies in the fourth quarter valued at approximately $89,000. Renaissance Technologies LLC boosted its stake 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 during the period. Finally, Bouvel Investment Partners LLC increased its holdings 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 acquiring an additional 2,518 shares during the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analysts Set New Price Targets

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

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.