Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) EVP Sells 2,072 Shares of Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) EVP Patrick Joseph Doran sold 2,072 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $6.54, for a total value of $13,550.88. Following the transaction, the executive vice president now owns 166,364 shares of the company's stock, valued at approximately $1,088,020.56. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Patrick Joseph Doran also recently made the following trade(s):

• On Thursday, May 29th, Patrick Joseph Doran sold 2,153 shares of Synchronoss Technologies stock. The shares were sold at an average price of $6.57, for a total transaction of $14,145.21.
• On Monday, April 28th, Patrick Joseph Doran sold 1,751 shares of Synchronoss Technologies stock. The stock was sold at an average price of $10.68, for a total transaction of $18,700.68.

Synchronoss Technologies Price Performance

NASDAQ SNCR traded up $0.11 during trading hours on Tuesday, reaching $7.00. The company's stock had a trading volume of 68,492 shares, compared to its average volume of 82,945. Synchronoss Technologies, Inc. has a 1 year low of $6.31 and a 1 year high of $15.46. 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 company has a market capitalization of $80.49 million, a price-to-earnings ratio of -1.80 and a beta of 1.85. The firm's 50-day moving average price is $9.06 and its 200-day moving average price is $9.51.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.75. The firm had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. On average, equities research analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNCR. Geode Capital Management LLC lifted its position in shares of Synchronoss Technologies by 1.8% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership raised 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 period. Barclays PLC raised its holdings in Synchronoss Technologies by 156.8% during the 4th quarter. Barclays PLC now owns 14,726 shares of the software maker's stock valued at $141,000 after buying an additional 8,992 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Synchronoss Technologies in the 4th quarter worth about $98,000. Finally, American Century Companies Inc. bought a new position in shares of Synchronoss Technologies during the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 51.71% of the company's stock.

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 Company 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.