Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Sells 20,878 Shares of Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO David D. Clark sold 20,878 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $7.91, for a total value of $165,144.98. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of SNCR opened at $8.11 on Friday. Synchronoss Technologies, Inc. has a 12-month low of $3.90 and a 12-month high of $8.56. The stock has a 50-day moving average price of $7.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a market cap of $346.48 million, a PE ratio of -1.66 and a beta of 0.51.

Synchronoss Technologies (NASDAQ:SNCR) last issued its earnings results on Thursday, May 9th. The software maker reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. The firm had revenue of $88.11 million during the quarter, compared to analyst estimates of $83.37 million. As a group, equities analysts forecast that Synchronoss Technologies, Inc. will post -1.78 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the company. Roth Capital assumed coverage on Translate Bio in a report on Tuesday, June 18th. They issued a “buy” rating and a $25.00 target price for the company. Zacks Investment Research cut Yatra Online from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Synchronoss Technologies currently has an average rating of “Buy” and a consensus price target of $8.92.

A number of institutional investors and hedge funds have recently modified their holdings of SNCR. Sawtooth Solutions LLC bought a new position in Synchronoss Technologies in the 1st quarter valued at approximately $193,000. Alambic Investment Management L.P. bought a new position in Synchronoss Technologies in the 1st quarter valued at approximately $98,000. Optimum Investment Advisors bought a new position in Synchronoss Technologies in the 1st quarter valued at approximately $30,000. Supplemental Annuity Collective Trust of NJ lifted its position in Synchronoss Technologies by 12.5% in the 1st quarter. Supplemental Annuity Collective Trust of NJ now owns 36,000 shares of the software maker’s stock valued at $219,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in Synchronoss Technologies in the 1st quarter valued at approximately $851,000. 41.20% of the stock is owned by institutional investors and hedge funds.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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Insider Buying and Selling by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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