Two Sigma Advisers LP Acquires New Shares in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Two Sigma Advisers LP acquired a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 42,111 shares of the software maker's stock, valued at approximately $404,000. Two Sigma Advisers LP owned 0.39% of Synchronoss Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNCR. Allspring Global Investments Holdings LLC lifted its holdings in shares of Synchronoss Technologies by 2.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock valued at $5,468,000 after buying an additional 11,023 shares during the period. American Century Companies Inc. acquired a new position in Synchronoss Technologies in the 4th quarter worth about $103,000. JPMorgan Chase & Co. raised its holdings in Synchronoss Technologies by 22.6% in the 4th quarter. JPMorgan Chase & Co. now owns 72,107 shares of the software maker's stock worth $692,000 after purchasing an additional 13,310 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Synchronoss Technologies by 9.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker's stock worth $774,000 after purchasing an additional 7,171 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker's stock worth $1,022,000 after purchasing an additional 1,851 shares during the period. Institutional investors and hedge funds own 51.71% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jeffrey George Miller sold 6,979 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $10.50, for a total value of $73,279.50. Following the completion of the sale, the chief executive officer now directly owns 451,853 shares in the company, valued at $4,744,456.50. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laurie Harris sold 4,800 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $7.00, for a total value of $33,600.00. Following the completion of the sale, the director now owns 47,632 shares of the company's stock, valued at $333,424. This trade represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,961 shares of company stock worth $279,021. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

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

Synchronoss Technologies Price Performance

NASDAQ SNCR traded up $0.16 during trading hours on Friday, reaching $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 1-year low of $6.31 and a 1-year high of $15.46. The company's 50-day moving average is $8.81 and its two-hundred day moving average is $9.47. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The firm 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 posted its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. On average, equities analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

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.