Two Sigma Investments LP Boosts Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Two Sigma Investments LP lifted its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 140.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,141 shares of the software maker's stock after acquiring an additional 39,256 shares during the quarter. Two Sigma Investments LP owned approximately 0.62% of Synchronoss Technologies worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Occudo Quantitative Strategies LP bought a new position in shares of Synchronoss Technologies during the 4th quarter worth approximately $98,000. American Century Companies Inc. bought a new stake in Synchronoss Technologies in the 4th quarter valued at about $103,000. Barclays PLC raised its stake in Synchronoss Technologies by 156.8% during the 4th quarter. Barclays PLC now owns 14,726 shares of the software maker's stock worth $141,000 after buying an additional 8,992 shares during the period. Integrated Quantitative Investments LLC acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $158,000. Finally, Ancora Advisors LLC bought a new position in Synchronoss Technologies in the fourth quarter worth approximately $163,000. 51.71% of the stock is owned by institutional investors and hedge funds.

Synchronoss Technologies Stock Down 2.8%

Shares of NASDAQ SNCR traded down $0.20 during mid-day trading on Thursday, reaching $6.96. 55,415 shares of the company's stock traded hands, compared to its average volume of 83,456. 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 business has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $9.43. The stock has a market cap of $80.03 million, a P/E ratio of -1.79 and a beta of 1.75. Synchronoss Technologies, Inc. has a 1-year low of $6.31 and a 1-year high of $15.46.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last issued 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 firm had revenue of $44.21 million during the quarter, compared to the consensus estimate of $43.76 million. On average, analysts expect that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 6,289 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $10.22, for a total value of $64,273.58. Following the sale, the chief executive officer now directly owns 445,564 shares in the company, valued at $4,553,664.08. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Laurie Harris sold 4,800 shares of the stock in a transaction dated 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 owns 47,632 shares of the company's stock, valued at $333,424. This represents a 9.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,878 shares of company stock worth $390,835 in the last quarter. 19.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.