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

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 17,389 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was 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 owns 336,232 shares in the company, valued at $3,476,638.88. This represents a 4.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Synchronoss Technologies Price Performance

SNCR opened at $9.28 on Thursday. The company has a 50-day moving average of $9.56 and a 200-day moving average of $10.97. The company has a market capitalization of $100.59 million, a P/E ratio of -2.39 and a beta of 1.99. Synchronoss Technologies, Inc. has a 1-year low of $6.02 and a 1-year high of $15.46. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88.

Institutional Investors Weigh In On Synchronoss Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Synchronoss Technologies by 603.6% in the 3rd quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,919 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $98,000. American Century Companies Inc. bought a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $103,000. Integrated Quantitative Investments LLC bought a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $158,000. Finally, Ancora Advisors LLC bought a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $163,000. Institutional investors own 51.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNCR shares. Roth Mkm upgraded shares of 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 report on Monday, November 25th. Roth Capital raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 25th.

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.