Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder Sells $723,623.70 in Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 61,690 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.73, for a total value of $723,623.70. Following the completion of the sale, the insider now directly owns 1,168,217 shares of the company’s stock, valued at $13,703,185.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The shares were sold at an average price of $11.48, for a total transaction of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The shares were 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 Stock Up 3.5 %

SNCR traded up $0.40 during mid-day trading on Wednesday, reaching $11.83. 166,863 shares of the stock were exchanged, compared to its average volume of 73,089. 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 6.02, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $127.65 million, a PE ratio of -2.33 and a beta of 1.92. The company has a 50 day moving average price of $9.39 and a two-hundred day moving average price of $8.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Synchronoss Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bouvel Investment Partners LLC increased its position in shares of Synchronoss Technologies by 3.4% during the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock valued at $642,000 after purchasing an additional 2,518 shares during the last quarter. Renaissance Technologies LLC raised its position in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock worth $734,000 after acquiring an additional 6,700 shares during the period. Victory Capital Management Inc. purchased a new position in Synchronoss Technologies in the fourth quarter valued at about $89,000. Dimensional Fund Advisors LP grew its position in shares of Synchronoss Technologies by 40.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after acquiring an additional 20,368 shares during the period. Finally, AWM Investment Company Inc. increased its position in Synchronoss Technologies by 8.5% in the first 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.