Lou Ferraro Sells 2,384 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) CFO Lou Ferraro sold 2,384 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $6.54, for a total transaction of $15,591.36. Following the sale, the chief financial officer now owns 135,456 shares of the company's stock, valued at approximately $885,882.24. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Lou Ferraro also recently made the following trade(s):

• On Thursday, May 29th, Lou Ferraro sold 2,477 shares of Synchronoss Technologies stock. The shares were sold at an average price of $6.57, for a total value of $16,273.89.

Synchronoss Technologies Trading Up 1.6%

Shares of SNCR traded up $0.11 during trading hours on Tuesday, reaching $7.00. 68,492 shares of the company traded hands, compared to its average volume of 82,945. Synchronoss Technologies, Inc. has a 12 month low of $6.31 and a 12 month 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's fifty day moving average price is $9.06 and its two-hundred day moving average price is $9.51. The company has a market capitalization of $80.49 million, a price-to-earnings ratio of -1.80 and a beta of 1.85.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last posted its quarterly earnings data 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. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. The business had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. Equities research analysts predict that Synchronoss Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Synchronoss Technologies by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 574,999 shares of the software maker's stock worth $5,468,000 after purchasing an additional 11,023 shares during the period. American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies during the fourth quarter valued at approximately $103,000. JPMorgan Chase & Co. boosted its position in shares of Synchronoss Technologies by 22.6% in the 4th quarter. JPMorgan Chase & Co. now owns 72,107 shares of the software maker's stock worth $692,000 after purchasing an additional 13,310 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Synchronoss Technologies by 9.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker's stock worth $774,000 after buying an additional 7,171 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Synchronoss Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker's stock valued at $1,022,000 after buying an additional 1,851 shares in the last quarter. 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.