Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $55,947.96 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 8,004 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $6.99, for a total value of $55,947.96. Following the completion of the sale, the chief executive officer now directly owns 437,560 shares of the company’s stock, valued at $3,058,544.40. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Jeffrey George Miller also recently made the following trade(s):

• On Friday, June 6th, Jeffrey George Miller sold 7,913 shares of Synchronoss Technologies stock. The stock was sold at an average price of $7.06, for a total transaction of $55,865.78.
• On Thursday, May 1st, Jeffrey George Miller sold 6,289 shares of Synchronoss Technologies stock. The shares were sold at an average price of $10.22, for a total transaction of $64,273.58.
• On Wednesday, April 23rd, Jeffrey George Miller sold 6,979 shares of Synchronoss Technologies stock. The stock was sold at an average price of $10.50, for a total transaction of $73,279.50.

Synchronoss Technologies Stock Performance

SNCR stock traded down $0.13 during midday trading on Monday, hitting $6.95. The company’s stock had a trading volume of 33,652 shares, compared to its average volume of 83,169. Synchronoss Technologies, Inc. has a 1 year low of $6.31 and a 1 year high of $15.46. The stock has a market cap of $79.85 million, a price-to-earnings ratio of -1.77 and a beta of 1.75. The stock’s 50-day moving average price is $8.81 and its 200 day moving average price is $9.48. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

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

Analysts Set New Price Targets

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

Institutional Trading of Synchronoss Technologies

Large investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP bought a new position in shares of Synchronoss Technologies during the 4th quarter worth $98,000. American Century Companies Inc. bought a new position in Synchronoss Technologies during the fourth quarter worth about $103,000. Barclays PLC increased its stake in shares of Synchronoss Technologies by 156.8% in the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker’s stock worth $141,000 after purchasing an additional 8,992 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of Synchronoss Technologies in the fourth quarter worth about $158,000. Finally, Ancora Advisors LLC bought a new stake in shares of Synchronoss Technologies in the fourth quarter valued at approximately $163,000. 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.