Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Jeffrey George Miller Sells 7,913 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) CEO Jeffrey George Miller sold 7,913 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $7.06, for a total transaction of $55,865.78. Following the completion of the transaction, the chief executive officer now owns 429,647 shares in the company, valued at approximately $3,033,307.82. This represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jeffrey George Miller also recently made the following trade(s):

• On Thursday, June 5th, Jeffrey George Miller sold 8,004 shares of Synchronoss Technologies stock. The shares were sold at an average price of $6.99, for a total transaction of $55,947.96.
• On Thursday, May 1st, Jeffrey George Miller sold 6,289 shares of Synchronoss Technologies stock. The shares were sold at an average price of $10.22, for a total value of $64,273.58.
• On Wednesday, April 23rd, Jeffrey George Miller sold 6,979 shares of Synchronoss Technologies stock. The stock was sold at an average price of $10.50, for a total value of $73,279.50.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR traded down $0.20 on Thursday, hitting $6.96. 55,415 shares of the company were exchanged, compared to its average volume of 83,456. Synchronoss Technologies, Inc. has a 1-year low of $6.31 and a 1-year high of $15.46. The firm has a market capitalization of $80.03 million, a P/E ratio of -1.79 and a beta of 1.75. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 5.75. The stock's 50 day moving average price is $8.59 and its 200 day moving average price is $9.43.

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 for the quarter, beating the consensus estimate of $0.10 by $0.75. The business had revenue of $44.21 million during 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%. Sell-side analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake 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 acquiring an additional 1,851 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Synchronoss Technologies by 9.8% in 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 lifted its position in Synchronoss Technologies by 156.8% in the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker's stock valued at $141,000 after purchasing an additional 8,992 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth $98,000. Finally, American Century Companies Inc. acquired a new stake in shares of Synchronoss Technologies during the 4th quarter valued at approximately $103,000. Hedge funds and other institutional investors own 51.71% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Synchronoss Technologies from a "hold" rating to a "buy" rating in a research note 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.