Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Sells $179,802.26 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller sold 17,389 shares of Synchronoss Technologies stock in a transaction dated 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 sale, the chief executive officer now owns 336,232 shares in the company, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR opened at $9.50 on Tuesday. The firm has a 50-day simple moving average of $9.55 and a 200-day simple moving average of $11.00. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock has a market capitalization of $102.98 million, a price-to-earnings ratio of -2.45 and a beta of 1.99. Synchronoss Technologies, Inc. has a 52 week low of $6.02 and a 52 week high of $15.46.

Institutional Trading of Synchronoss Technologies

A number of hedge funds have recently bought and sold shares of SNCR. Barclays PLC grew its position in shares of Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies during the fourth quarter worth $98,000. American Century Companies Inc. purchased a new stake in Synchronoss Technologies in the 4th quarter valued at $103,000. GSA Capital Partners LLP acquired a new stake in shares of Synchronoss Technologies in the 3rd quarter worth $165,000. Finally, XTX Topco Ltd acquired a new position in shares of Synchronoss Technologies during the 3rd quarter valued at about $237,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNCR. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $13.00 in a research note on Monday, November 25th. Roth Capital upgraded 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.