Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder Sells $419,585.52 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 32,678 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $12.84, for a total value of $419,585.52. Following the sale, the insider now owns 994,034 shares of the company’s stock, valued at approximately $12,763,396.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

• On Friday, August 23rd, B. Riley Financial, Inc. sold 9,819 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.82, for a total value of $125,879.58.
• On Wednesday, August 21st, B. Riley Financial, Inc. sold 3,699 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.80, for a total value of $47,347.20.
• On Monday, August 19th, B. Riley Financial, Inc. sold 40,713 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.12, for a total value of $493,441.56.
• On Friday, August 16th, B. Riley Financial, Inc. sold 23,290 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.83, for a total value of $275,520.70.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.73, for a total value of $723,623.70.
• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.48, for a total value of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.45, for a total value of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.20, for a total value of $5,824.00.

Synchronoss Technologies Trading Up 3.7 %

Shares of Synchronoss Technologies stock opened at $14.23 on Friday. The stock has a fifty day simple moving average of $10.45 and a 200 day simple moving average of $9.23. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68. Synchronoss Technologies, Inc. has a 12-month low of $2.70 and a 12-month high of $14.48. The company has a market capitalization of $153.57 million, a P/E ratio of -2.82 and a beta of 1.92.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNCR. Victory Capital Management Inc. purchased a new position in Synchronoss Technologies in the fourth quarter worth $89,000. Bouvel Investment Partners LLC boosted its position in Synchronoss Technologies by 3.4% in the first 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 during the last quarter. AWM Investment Company Inc. boosted its position in Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock worth $4,435,000 after purchasing an additional 41,824 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 worth $654,000 after purchasing an additional 20,368 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after purchasing an additional 6,700 shares during the last quarter. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.