Synchronoss Technologies, Inc. (NASDAQ:SNCR) EVP Patrick Joseph Doran Sells 3,250 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) EVP Patrick Joseph Doran sold 3,250 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $14.77, for a total transaction of $48,002.50. Following the completion of the transaction, the executive vice president now owns 107,483 shares of the company’s stock, valued at $1,587,523.91. The sale was disclosed in a document filed with the SEC, which is available through this link.

Synchronoss Technologies Stock Performance

SNCR stock opened at $13.05 on Friday. The company has a market cap of $140.84 million, a P/E ratio of -2.59 and a beta of 1.95. 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, Inc. has a 1 year low of $2.70 and a 1 year high of $15.45. The stock’s fifty day moving average price is $11.20 and its 200-day moving average price is $9.47.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $43.09 million. On average, equities analysts forecast that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Synchronoss Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter worth $89,000. Bouvel Investment Partners LLC increased 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 buying an additional 2,518 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 20,368 shares during the period. Renaissance Technologies LLC lifted 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 valued at $734,000 after buying an additional 6,700 shares in the last quarter. Finally, AWM Investment Company Inc. increased 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 worth $4,435,000 after buying an additional 41,824 shares in the last quarter. 51.71% of the stock is owned by hedge funds and other institutional investors.

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.