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

Two Sigma Investments LP boosted its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 140.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,141 shares of the software maker's stock after acquiring an additional 39,256 shares during the period. Two Sigma Investments LP owned 0.62% of Synchronoss Technologies worth $645,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Synchronoss Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker's stock valued at $1,022,000 after purchasing an additional 1,851 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Synchronoss Technologies by 9.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker's stock valued at $774,000 after purchasing an additional 7,171 shares during the last quarter. Barclays PLC lifted its position in Synchronoss Technologies by 156.8% during the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker's stock valued at $141,000 after purchasing an additional 8,992 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Synchronoss Technologies during the fourth quarter valued at $98,000. Finally, American Century Companies Inc. bought a new position in Synchronoss Technologies during the fourth quarter valued at $103,000. 51.71% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Trading Down 0.4%

Shares of Synchronoss Technologies stock traded down $0.03 during trading on Wednesday, hitting $7.16. The stock had a trading volume of 45,847 shares, compared to its average volume of 83,569. The firm's fifty day simple moving average is $8.59 and its 200-day simple moving average is $9.43. The stock has a market cap of $82.33 million, a PE ratio of -1.85 and a beta of 1.75. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. Synchronoss Technologies, Inc. has a 12 month low of $6.31 and a 12 month high of $15.46.

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

Insider Activity

In other news, CEO Jeffrey George Miller sold 6,979 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were 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 owns 451,853 shares in the company, valued at approximately $4,744,456.50. The trade was a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laurie Harris sold 4,800 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $7.00, for a total transaction of $33,600.00. Following the completion of the sale, the director now owns 47,632 shares of the company's stock, valued at approximately $333,424. This represents a 9.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,878 shares of company stock worth $390,835. 19.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Synchronoss Technologies from a "hold" rating to a "buy" rating in a research 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.