Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.50 and traded as high as $11.13. Synchronoss Technologies shares last traded at $10.20, with a volume of 182,129 shares.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Synchronoss Technologies from a "buy" rating to a "hold" rating in a report on Friday, August 16th.
View Our Latest Research Report on Synchronoss Technologies
Synchronoss Technologies Price Performance
The firm has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $10.52. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68. The company has a market capitalization of $114.69 million, a price-to-earnings ratio of -2.64 and a beta of 1.99.
Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its 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 firm had revenue of $43.46 million for the quarter, compared to analyst estimates of $43.09 million. As a group, analysts predict that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Synchronoss Technologies news, major shareholder B. Riley Financial, Inc. sold 61,690 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.73, for a total value of $723,623.70. Following the completion of the sale, the insider now owns 1,168,217 shares in the company, valued at approximately $13,703,185.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total value of $162,000.00. Following the transaction, the chief executive officer now owns 284,462 shares of the company's stock, valued at $3,840,237. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder B. Riley Financial, Inc. sold 61,690 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $11.73, for a total transaction of $723,623.70. Following the completion of the sale, the insider now directly owns 1,168,217 shares in the company, valued at $13,703,185.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 297,907 shares of company stock worth $3,616,726. Corporate insiders own 17.90% of the company's stock.
Institutional Investors Weigh In On Synchronoss Technologies
Several institutional investors and hedge funds have recently modified their holdings of SNCR. Allspring Global Investments Holdings LLC grew its position in Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker's stock valued at $8,395,000 after acquiring an additional 13,984 shares in the last quarter. AWM Investment Company Inc. grew its holdings in shares of Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker's stock valued at $4,435,000 after purchasing an additional 41,824 shares in the last quarter. Renaissance Technologies LLC increased its stake in Synchronoss Technologies by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker's stock worth $734,000 after buying an additional 6,700 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Synchronoss Technologies by 40.6% during the 2nd 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Synchronoss Technologies in the third quarter worth $165,000. Hedge funds and other institutional investors own 51.71% of the company's stock.
About Synchronoss Technologies
(
Get Free Report)
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.
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