Synchronoss Technologies (NASDAQ:SNCR) Shares Pass Above 200-Day Moving Average of $9.84

Synchronoss Technologies, Inc. (NASDAQ:SNCR)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.84 and traded as high as $15.46. Synchronoss Technologies shares last traded at $14.10, with a volume of 116,094 shares traded.

Analyst Upgrades and Downgrades

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

Synchronoss Technologies Stock Down 5.3 %

The firm has a market cap of $152.56 million, a P/E ratio of -2.80 and a beta of 1.95. The firm’s 50-day moving average price is $12.40 and its 200 day moving average price is $9.84. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.78 and a quick ratio of 1.78.

Synchronoss Technologies (NASDAQ:SNCR) last released its earnings results 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 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%. On average, equities research analysts expect that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total transaction of $162,000.00. Following the completion of the sale, the chief executive officer now owns 284,462 shares in the company, valued at $3,840,237. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Jeffrey George Miller sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.50, for a total value of $162,000.00. Following the sale, the chief executive officer now owns 284,462 shares of the company’s stock, valued at approximately $3,840,237. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder B. Riley Financial, Inc. sold 57,466 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $11.45, for a total value of $657,985.70. Following the transaction, the insider now owns 1,312,548 shares of the company’s stock, valued at approximately $15,028,674.60. The disclosure for this sale can be found here. Insiders have sold 297,907 shares of company stock worth $3,616,726 over the last ninety days. 17.90% of the stock is owned by insiders.

Institutional Trading of Synchronoss Technologies

Hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. raised its stake in shares of Synchronoss Technologies by 8.5% during 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 raised its position in shares of Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after buying an additional 20,368 shares in the last quarter. Renaissance Technologies LLC boosted 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 acquiring an additional 6,700 shares in the last quarter. Finally, Bouvel Investment Partners LLC boosted its holdings in shares of Synchronoss Technologies by 3.4% in the first quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock valued at $642,000 after acquiring an additional 2,518 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.