Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Lou Ferraro Sells 2,477 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) CFO Lou Ferraro sold 2,477 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $6.57, for a total transaction of $16,273.89. Following the sale, the chief financial officer now directly owns 132,979 shares in the company, valued at approximately $873,672.03. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lou Ferraro also recently made the following trade(s):

• On Wednesday, May 28th, Lou Ferraro sold 2,384 shares of Synchronoss Technologies stock. The stock was sold at an average price of $6.54, for a total transaction of $15,591.36.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR traded up $0.11 during midday trading on Tuesday, reaching $7.00. 68,492 shares of the company traded hands, compared to its average volume of 82,945. The firm's fifty day moving average price is $9.06 and its two-hundred day moving average price is $9.51. The firm has a market capitalization of $80.49 million, a price-to-earnings ratio of -1.80 and a beta of 1.85. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. 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 results on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $43.76 million. On average, equities analysts expect that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Synchronoss Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Synchronoss Technologies by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock worth $5,468,000 after purchasing an additional 11,023 shares in the last quarter. Ancora Advisors LLC lifted its position in Synchronoss Technologies by 762.4% during the first quarter. Ancora Advisors LLC now owns 146,871 shares of the software maker's stock valued at $1,599,000 after purchasing an additional 129,840 shares during the last quarter. Man Group plc grew its stake in Synchronoss Technologies by 131.0% in the 4th quarter. Man Group plc now owns 122,667 shares of the software maker's stock worth $1,178,000 after buying an additional 69,569 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 1,851 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Synchronoss Technologies during the 1st quarter valued at $914,000. 51.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of 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.