Insider Selling: Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder Sells $275,520.70 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 23,290 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.83, for a total transaction of $275,520.70. Following the sale, the insider now directly owns 1,089,454 shares of the company’s stock, valued at approximately $12,888,240.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

• On Monday, August 19th, B. Riley Financial, Inc. sold 40,713 shares of Synchronoss Technologies stock. The stock was sold at an average price of $12.12, for a total value of $493,441.56.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.73, for a total value of $723,623.70.
• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.48, for a total value of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.45, for a total transaction of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.20, for a total transaction of $5,824.00.

Synchronoss Technologies Price Performance

SNCR stock opened at $12.64 on Thursday. Synchronoss Technologies, Inc. has a 1 year low of $2.70 and a 1 year high of $13.97. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market capitalization of $136.76 million, a PE ratio of -2.51 and a beta of 1.92. The business has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $8.93.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 16th.

Institutional Trading of Synchronoss Technologies

Several large investors have recently added to or reduced their stakes in SNCR. Victory Capital Management Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter worth $89,000. Bouvel Investment Partners LLC raised its stake in Synchronoss Technologies by 3.4% during the first quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after purchasing an additional 2,518 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Synchronoss Technologies by 40.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after purchasing an additional 20,368 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Synchronoss Technologies by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after buying an additional 6,700 shares during the period. Finally, AWM Investment Company Inc. increased its holdings in shares of Synchronoss Technologies by 8.5% during the 1st quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock worth $4,435,000 after buying an additional 41,824 shares during the last quarter. 51.71% of the stock is currently owned by hedge funds and other institutional investors.

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.