Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Sells $16,273.89 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Lou Ferraro sold 2,477 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $6.57, for a total transaction of $16,273.89. Following the sale, the chief financial officer now directly owns 132,979 shares in the company, valued at $873,672.03. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lou Ferraro also recently made the following trade(s):

• On Wednesday, May 28th, Lou Ferraro sold 2,384 shares of Synchronoss Technologies stock. The shares were sold at an average price of $6.54, for a total transaction of $15,591.36.

Synchronoss Technologies Price Performance

SNCR opened at $6.73 on Monday. Synchronoss Technologies, Inc. has a one year low of $6.31 and a one year high of $15.46. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50 day simple moving average is $9.26 and its 200-day simple moving average is $9.55. The stock has a market capitalization of $77.38 million, a P/E ratio of -1.73 and a beta of 1.85.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The business had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.76 million. Sell-side analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Occudo Quantitative Strategies LP bought a new position in Synchronoss Technologies in the fourth quarter valued at approximately $98,000. American Century Companies Inc. bought a new position in Synchronoss Technologies in the fourth quarter valued at approximately $103,000. Barclays PLC boosted its stake in Synchronoss Technologies by 156.8% in the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker’s stock valued at $141,000 after acquiring an additional 8,992 shares during the last quarter. Integrated Quantitative Investments LLC bought a new position in Synchronoss Technologies in the fourth quarter valued at approximately $158,000. Finally, Ancora Advisors LLC bought a new position in Synchronoss Technologies in the fourth quarter valued at approximately $163,000. 51.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research note on Friday, March 14th.

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.