Laurie Harris Sells 4,800 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) Director Laurie Harris sold 4,800 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $7.00, for a total value of $33,600.00. Following the sale, the director now owns 47,632 shares in the company, valued at $333,424. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Synchronoss Technologies Trading Up 2.3%

Shares of SNCR stock traded up $0.16 during mid-day trading on Friday, hitting $7.07. 52,346 shares of the company's stock were exchanged, compared to its average volume of 83,352. The stock has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $9.48. Synchronoss Technologies, Inc. has a fifty-two week low of $6.31 and a fifty-two week 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 stock has a market cap 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 results on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Equities analysts expect that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

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.

Institutional Investors Weigh In On Synchronoss Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew 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 acquiring an additional 1,851 shares during the period. Arrowstreet Capital Limited Partnership grew 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 acquiring an additional 7,171 shares during the period. Barclays PLC grew 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 acquiring an additional 8,992 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Synchronoss Technologies during the fourth quarter worth about $98,000. Finally, American Century Companies Inc. acquired a new position in shares of Synchronoss Technologies during the fourth quarter worth about $103,000. Hedge funds and other institutional investors own 51.71% of the company's stock.

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.