Allspring Global Investments Holdings LLC Has $3.67 Million Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Allspring Global Investments Holdings LLC decreased its position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR - Free Report) by 88.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,372 shares of the software maker's stock after selling 4,712,087 shares during the quarter. Allspring Global Investments Holdings LLC owned 5.69% of Synchronoss Technologies worth $3,666,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. acquired a new stake in shares of Synchronoss Technologies during the 2nd quarter worth approximately $30,000. Quadrature Capital Ltd purchased a new position in shares of Synchronoss Technologies in the 3rd quarter valued at about $32,000. Jane Street Group LLC purchased a new stake in Synchronoss Technologies during the 2nd quarter worth about $36,000. HighTower Advisors LLC purchased a new position in Synchronoss Technologies during the 3rd quarter worth $37,000. Finally, Sei Investments Co. acquired a new position in Synchronoss Technologies in the 1st quarter valued at about $40,000. 51.71% of the stock is owned by hedge funds and other institutional investors.

Synchronoss Technologies Stock Performance

NASDAQ:SNCR traded down $0.11 during midday trading on Friday, reaching $6.31. The stock had a trading volume of 34,070 shares, compared to its average volume of 42,528. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 5.11. The stock has a market cap of $65.06 million, a P/E ratio of -0.95 and a beta of 1.66. Synchronoss Technologies, Inc. has a 12-month low of $2.70 and a 12-month high of $13.97. The firm has a fifty day simple moving average of $8.78 and a two-hundred day simple moving average of $6.48.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last posted its earnings results on Tuesday, March 12th. The software maker reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.71). The firm had revenue of $41.40 million during 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%. On average, equities analysts expect that Synchronoss Technologies, Inc. will post -2.06 EPS for the current year.

Insiders Place Their Bets

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

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.