Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller Sells 7,913 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 7,913 shares of Synchronoss Technologies stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $7.06, for a total value of $55,865.78. Following the completion of the sale, the chief executive officer now owns 429,647 shares of the company’s stock, valued at $3,033,307.82. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 5th, Jeffrey George Miller sold 8,004 shares of Synchronoss Technologies stock. The shares were sold at an average price of $6.99, for a total value of $55,947.96.
• 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 value of $64,273.58.
• On Wednesday, April 23rd, Jeffrey George Miller sold 6,979 shares of Synchronoss Technologies stock. The shares were sold at an average price of $10.50, for a total value of $73,279.50.

Synchronoss Technologies Stock Performance

NASDAQ SNCR opened at $7.16 on Thursday. The firm has a market capitalization of $82.33 million, a P/E ratio of -1.85 and a beta of 1.75. Synchronoss Technologies, Inc. has a 1-year low of $6.31 and a 1-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 business’s 50-day simple moving average is $8.59 and its 200-day simple moving average is $9.43.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Synchronoss Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Synchronoss Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock worth $1,022,000 after acquiring an additional 1,851 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Synchronoss Technologies by 9.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker’s stock worth $774,000 after acquiring an additional 7,171 shares in the last quarter. Barclays PLC lifted its position in Synchronoss Technologies by 156.8% during the 4th quarter. Barclays PLC now owns 14,726 shares of the software maker’s stock worth $141,000 after acquiring an additional 8,992 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $98,000. Finally, American Century Companies Inc. acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $103,000. 51.71% of the stock is owned by institutional investors and hedge funds.

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.