Synchronoss Technologies (NASDAQ:SNCR) Shares Pass Above Two Hundred Day Moving Average of $6.48

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.48 and traded as high as $6.59. Synchronoss Technologies shares last traded at $6.55, with a volume of 29,705 shares trading hands.

Synchronoss Technologies Price Performance

The stock has a market cap of $65.06 million, a price-to-earnings ratio of -0.95 and a beta of 1.66. The company has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $6.50. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 5.11.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The software maker reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.71). The firm had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative net margin of 25.43% and a negative return on equity of 17.99%. As a group, research analysts anticipate that Synchronoss Technologies, Inc. will post -2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kevin Rendino purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $9.30 per share, with a total value of $46,500.00. Following the acquisition, the director now owns 888,892 shares in the company, valued at approximately $8,266,695.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Synchronoss Technologies news, EVP Patrick Joseph Doran sold 2,750 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.33, for a total value of $25,657.50. Following the sale, the executive vice president now owns 69,308 shares in the company, valued at $646,643.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Rendino acquired 5,000 shares of Synchronoss Technologies stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $9.30 per share, with a total value of $46,500.00. Following the completion of the transaction, the director now owns 888,892 shares of the company's stock, valued at approximately $8,266,695.60. The disclosure for this purchase can be found here. Insiders have sold a total of 7,490 shares of company stock worth $59,307 over the last quarter. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synchronoss Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. increased its position in shares of Synchronoss Technologies by 24.1% during the 3rd quarter. AWM Investment Company Inc. now owns 4,403,591 shares of the software maker's stock valued at $4,227,000 after purchasing an additional 854,411 shares during the period. Bouvel Investment Partners LLC boosted its stake in Synchronoss Technologies by 3.4% during the first quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker's stock valued at $642,000 after buying an additional 2,518 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Synchronoss Technologies in the fourth quarter worth about $89,000. Finally, First Personal Financial Services bought a new stake in Synchronoss Technologies in the fourth quarter worth about $25,000. 51.71% of the stock is currently owned by institutional investors.

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.