Synchronoss Technologies (NASDAQ:SNCR) Shares Pass Above Two Hundred Day Moving Average of $9.72

Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.72 and traded as high as $13.51. Synchronoss Technologies shares last traded at $12.99, with a volume of 98,791 shares traded.

Wall Street Analyst Weigh In

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

Synchronoss Technologies Trading Down 3.6 %

The firm has a market capitalization of $140.19 million, a price-to-earnings ratio of -2.58 and a beta of 1.95. The business’s fifty day moving average is $12.01 and its 200 day moving average is $9.72. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 6.68.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.39. The firm had revenue of $43.46 million for the quarter, compared to the consensus estimate of $43.09 million. Synchronoss Technologies had a positive return on equity of 28.60% and a negative net margin of 16.97%. Equities analysts predict that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Synchronoss Technologies

In other news, CFO Lou Ferraro sold 5,768 shares of Synchronoss Technologies stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.60, for a total value of $78,444.80. Following the sale, the chief financial officer now directly owns 83,556 shares in the company, valued at $1,136,361.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Lou Ferraro sold 5,768 shares of Synchronoss Technologies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.60, for a total value of $78,444.80. Following the sale, the chief financial officer now owns 83,556 shares of the company’s stock, valued at $1,136,361.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder B. Riley Financial, Inc. sold 57,466 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $11.45, for a total value of $657,985.70. Following the sale, the insider now owns 1,312,548 shares in the company, valued at approximately $15,028,674.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 297,907 shares of company stock worth $3,616,726. Corporate insiders own 17.90% of the company’s stock.

Institutional Trading of Synchronoss Technologies

A number of large investors have recently added to or reduced their stakes in SNCR. Victory Capital Management Inc. bought a new stake in Synchronoss Technologies in the fourth quarter valued at approximately $89,000. 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. AWM Investment Company Inc. raised its stake 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 during the period. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 20,368 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after purchasing an additional 6,700 shares during 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.