Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $179,802.26 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 17,389 shares of Synchronoss Technologies stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the transaction, the chief executive officer now owns 336,232 shares in the company, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Synchronoss Technologies Stock Performance

NASDAQ:SNCR opened at $9.28 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The firm has a market capitalization of $100.59 million, a price-to-earnings ratio of -2.39 and a beta of 1.99. The firm’s fifty day simple moving average is $9.56 and its 200 day simple moving average is $10.97. Synchronoss Technologies, Inc. has a twelve month low of $6.02 and a twelve month high of $15.46.

Hedge Funds Weigh In On Synchronoss Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SNCR. Man Group plc lifted its holdings in shares of Synchronoss Technologies by 131.0% during the 4th quarter. Man Group plc now owns 122,667 shares of the software maker’s stock valued at $1,178,000 after acquiring an additional 69,569 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Synchronoss Technologies by 54,341.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock valued at $875,000 after acquiring an additional 58,689 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Synchronoss Technologies during the 4th quarter valued at $404,000. LSV Asset Management acquired a new position in shares of Synchronoss Technologies during the 4th quarter valued at $400,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Synchronoss Technologies by 140.8% during the 4th quarter. Two Sigma Investments LP now owns 67,141 shares of the software maker’s stock valued at $645,000 after acquiring an additional 39,256 shares in the last quarter. Institutional investors and hedge funds own 51.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNCR shares. Roth Mkm upgraded shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a report on Monday, November 25th. Roth Capital upgraded shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th.

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.