Informed Momentum Co LLC acquired a new stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 52,227 shares of the software maker's stock, valued at approximately $569,000. Informed Momentum Co LLC owned 0.45% of Synchronoss Technologies as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth approximately $295,000. Two Sigma Advisers LP acquired a new position in Synchronoss Technologies in the fourth quarter worth $404,000. Two Sigma Investments LP boosted its holdings in Synchronoss Technologies by 140.8% in the fourth quarter. Two Sigma Investments LP now owns 67,141 shares of the software maker's stock worth $645,000 after purchasing an additional 39,256 shares during the period. Man Group plc boosted its holdings in Synchronoss Technologies by 131.0% in the fourth quarter. Man Group plc now owns 122,667 shares of the software maker's stock worth $1,178,000 after purchasing an additional 69,569 shares during the period. Finally, Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies in the fourth quarter worth $98,000. Institutional investors and hedge funds own 51.71% of the company's stock.
Synchronoss Technologies Price Performance
Synchronoss Technologies stock traded down $0.17 during midday trading on Friday, hitting $6.42. The company's stock had a trading volume of 50,340 shares, compared to its average volume of 92,052. The stock's 50-day moving average price is $7.20 and its 200-day moving average price is $8.67. The company has a market capitalization of $73.84 million, a PE ratio of -3.07 and a beta of 1.77. Synchronoss Technologies, Inc. has a 12 month low of $6.00 and a 12 month high of $15.46. The company has a quick ratio of 2.05, a current ratio of 1.72 and a debt-to-equity ratio of 3.67.
Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The software maker reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.15). The company had revenue of $42.49 million during the quarter, compared to analysts' expectations of $42.79 million. Synchronoss Technologies had a negative return on equity of 3.77% and a negative net margin of 12.36%. Analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.
Insider Transactions at Synchronoss Technologies
In related news, Director Laurie Harris sold 4,800 shares of Synchronoss Technologies stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $7.00, for a total value of $33,600.00. Following the transaction, the director owned 47,632 shares of the company's stock, valued at approximately $333,424. This trade represents a 9.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey George Miller sold 8,004 shares of Synchronoss Technologies stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $6.99, for a total value of $55,947.96. Following the completion of the transaction, the chief executive officer directly owned 437,560 shares in the company, valued at $3,058,544.40. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,074 shares of company stock worth $226,417 in the last three months. 19.90% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Separately, Wall Street Zen downgraded shares of Synchronoss Technologies from a "buy" rating to a "hold" rating in a report on Saturday.
View Our Latest Research Report on Synchronoss Technologies
Synchronoss Technologies Profile
(
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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