Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells 17,389 Shares of Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) CEO Jeffrey George Miller sold 17,389 shares of the firm's stock in a transaction that occurred 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 directly owns 336,232 shares of the company's stock, valued at approximately $3,476,638.88. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Synchronoss Technologies Stock Down 1.7 %

Synchronoss Technologies stock traded down $0.16 during mid-day trading on Friday, hitting $8.99. The company had a trading volume of 42,748 shares, compared to its average volume of 48,078. The stock has a market cap of $97.44 million, a price-to-earnings ratio of -2.32 and a beta of 1.99. 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, Inc. has a 1 year low of $6.02 and a 1 year high of $15.46. The business has a fifty day moving average of $9.56 and a 200 day moving average of $10.96.

Analysts Set New Price Targets

SNCR has been the topic of a number of recent research reports. Roth Capital raised Synchronoss Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 25th. Roth Mkm raised Synchronoss Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $11.00 to $13.00 in a research report on Monday, November 25th.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Synchronoss Technologies by 54,341.7% in the third 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. Geode Capital Management LLC boosted its position in shares of Synchronoss Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker's stock valued at $1,557,000 after purchasing an additional 4,159 shares during the period. Barclays PLC grew its stake in Synchronoss Technologies by 603.6% during the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker's stock worth $85,000 after buying an additional 4,919 shares during the last quarter. State Street Corp increased its position in Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker's stock worth $522,000 after buying an additional 4,000 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Synchronoss Technologies by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock valued at $5,468,000 after buying an additional 11,023 shares during the last quarter. 51.71% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

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.