83,970 Shares in Synchronoss Technologies, Inc. $SNCR Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. acquired 83,970 shares of Synchronoss Technologies, Inc. for approximately $914,000, increasing its ownership to about 0.73% as of the latest reporting period.
• In recent transactions, other institutional investors, such as Man Group plc and Marshall Wace LLP, significantly increased their stakes in Synchronoss Technologies, with companies raising their holdings by over 130% in some cases.
• Synchronoss Technologies reported quarterly earnings that missed estimates, with an EPS of $0.10 compared to a consensus of $0.25, amid negative return on equity and margin figures.

Russell Investments Group Ltd. acquired a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 83,970 shares of the software maker's stock, valued at approximately $914,000. Russell Investments Group Ltd. owned about 0.73% of Synchronoss Technologies as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of SNCR. Occudo Quantitative Strategies LP bought a new stake in shares of Synchronoss Technologies during the 4th quarter valued at $98,000. Barclays PLC grew its stake in shares of Synchronoss Technologies by 156.8% in the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker's stock worth $141,000 after purchasing an additional 8,992 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $163,000. Mackenzie Financial Corp purchased a new stake in Synchronoss Technologies in the fourth quarter worth about $295,000. Finally, Two Sigma Advisers LP purchased a new stake in Synchronoss Technologies in the fourth quarter worth about $404,000. Hedge funds and other institutional investors own 51.71% of the company's stock.

Synchronoss Technologies Stock Performance

SNCR traded down $0.20 on Thursday, reaching $5.47. The stock had a trading volume of 87,631 shares, compared to its average volume of 66,994. Synchronoss Technologies, Inc. has a 12-month low of $5.33 and a 12-month high of $15.46. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.67. The business's 50-day moving average price is $7.05 and its two-hundred day moving average price is $8.29. The company has a market cap of $62.91 million, a P/E ratio of -2.62 and a beta of 1.65.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its earnings results on Monday, August 11th. The software maker reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.15). The company had revenue of $42.49 million during the quarter, compared to analyst estimates of $42.79 million. Synchronoss Technologies had a negative net margin of 12.36% and a negative return on equity of 3.77%. Synchronoss Technologies has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 7,913 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $7.06, for a total value of $55,865.78. Following the transaction, the chief executive officer directly owned 429,647 shares in the company, valued at approximately $3,033,307.82. This represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

SNCR has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Synchronoss Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research cut shares of Synchronoss Technologies from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

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.