Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO Sells $165,144.98 in Stock

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Synchronoss Technologies, Inc. (NASDAQ:SNCR) CFO David D. Clark sold 20,878 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $7.91, for a total transaction of $165,144.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Synchronoss Technologies stock opened at $8.11 on Friday. Synchronoss Technologies, Inc. has a 12-month low of $3.90 and a 12-month high of $8.56. The stock has a market capitalization of $347.76 million, a P/E ratio of -1.66 and a beta of 0.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50-day moving average price of $7.33.

Synchronoss Technologies (NASDAQ:SNCR) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. The firm had revenue of $88.11 million during the quarter, compared to analysts’ expectations of $83.37 million. As a group, equities research analysts expect that Synchronoss Technologies, Inc. will post -1.78 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Yatra Online from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, Roth Capital assumed coverage on shares of Translate Bio in a report on Tuesday, June 18th. They issued a “buy” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Synchronoss Technologies presently has a consensus rating of “Buy” and an average price target of $8.92.

Several institutional investors have recently made changes to their positions in SNCR. Optimum Investment Advisors purchased a new stake in shares of Synchronoss Technologies in the first quarter worth about $30,000. United Services Automobile Association purchased a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $72,000. Jane Street Group LLC purchased a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $73,000. Deutsche Bank AG purchased a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $95,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of Synchronoss Technologies in the first quarter worth about $98,000. 41.20% of the stock is currently owned by hedge funds and other institutional investors.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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Insider Buying and Selling by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

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