Two Sigma Advisers LP Takes Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Two Sigma Advisers LP purchased a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,111 shares of the software maker's stock, valued at approximately $404,000. Two Sigma Advisers LP owned approximately 0.39% of Synchronoss Technologies as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNCR. Man Group plc grew its stake in Synchronoss Technologies by 131.0% in the fourth quarter. Man Group plc now owns 122,667 shares of the software maker's stock valued at $1,178,000 after purchasing an additional 69,569 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Synchronoss Technologies in the fourth quarter valued at approximately $400,000. Two Sigma Investments LP lifted its position in shares of Synchronoss Technologies by 140.8% in the fourth quarter. Two Sigma Investments LP now owns 67,141 shares of the software maker's stock valued at $645,000 after buying an additional 39,256 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Synchronoss Technologies by 55.3% in the fourth quarter. Marshall Wace LLP now owns 80,166 shares of the software maker's stock valued at $770,000 after buying an additional 28,551 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Synchronoss Technologies in the fourth quarter valued at approximately $172,000. 51.71% of the stock is currently owned by institutional investors.

Synchronoss Technologies Price Performance

Shares of SNCR traded up $0.16 during midday trading on Friday, hitting $7.07. The company's stock had a trading volume of 52,346 shares, compared to its average volume of 83,352. Synchronoss Technologies, Inc. has a one year low of $6.31 and a one year high of $15.46. The company's fifty day simple moving average is $8.81 and its two-hundred day simple moving average is $9.48. 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 $81.29 million, a price-to-earnings ratio of -1.82 and a beta of 1.75.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.75. The business had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. As a group, equities analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laurie Harris sold 4,800 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $7.00, for a total transaction of $33,600.00. Following the transaction, the director now directly owns 47,632 shares of the company's stock, valued at approximately $333,424. This represents a 9.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey George Miller sold 6,289 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $10.22, for a total value of $64,273.58. Following the completion of the transaction, the chief executive officer now directly owns 445,564 shares of the company's stock, valued at approximately $4,553,664.08. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,961 shares of company stock valued at $279,021. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Synchronoss Technologies from a "hold" rating to a "buy" rating in a report on Friday, March 14th.

Synchronoss Technologies Profile

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.