Synchronoss Technologies Inc. (NASDAQ:SNCR) CFO Karen Rosenberger sold 755 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $40.86, for a total value of $30,849.30. Following the transaction, the chief financial officer now directly owns 44,219 shares of the company’s stock, valued at $1,806,788.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Karen Rosenberger also recently made the following trade(s):
- On Monday, August 22nd, Karen Rosenberger sold 83 shares of Synchronoss Technologies stock. The stock was sold at an average price of $40.77, for a total value of $3,383.91.
Shares of Synchronoss Technologies Inc. (NASDAQ:SNCR) opened at 40.27 on Monday. Synchronoss Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $43.65. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 682.54 and a beta of 2.15. The company has a 50-day moving average price of $41.47 and a 200-day moving average price of $36.33.
Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Synchronoss Technologies had a net margin of 0.52% and a return on equity of 13.12%. The business earned $161.49 million during the quarter, compared to analyst estimates of $156.99 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. On average, equities analysts anticipate that Synchronoss Technologies Inc. will post $2.51 EPS for the current year.
A number of hedge funds have recently bought and sold shares of SNCR. Frontier Capital Management Co. LLC raised its stake in Synchronoss Technologies by 139.4% in the second quarter. Frontier Capital Management Co. LLC now owns 307,330 shares of the company’s stock valued at $9,792,000 after buying an additional 178,971 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Synchronoss Technologies by 21.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,013,791 shares of the company’s stock valued at $32,299,000 after buying an additional 178,868 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Synchronoss Technologies during the second quarter valued at about $4,738,000. BlackRock Fund Advisors raised its stake in Synchronoss Technologies by 5.5% in the second quarter. BlackRock Fund Advisors now owns 2,649,959 shares of the company’s stock valued at $84,428,000 after buying an additional 137,698 shares during the last quarter. Finally, Granahan Investment Management Inc. MA raised its stake in Synchronoss Technologies by 40.8% in the first quarter. Granahan Investment Management Inc. MA now owns 360,100 shares of the company’s stock valued at $11,646,000 after buying an additional 104,400 shares during the last quarter. Institutional investors and hedge funds own 81.29% of the company’s stock.
Several research firms have recently weighed in on SNCR. Zacks Investment Research raised Synchronoss Technologies from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, August 9th. Stephens began coverage on Synchronoss Technologies in a research report on Wednesday, August 10th. They issued an “overweight” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.44.
About Synchronoss Technologies
Synchronoss Technologies, Inc (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.
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