StockNews.com Lowers Synchronoss Technologies (NASDAQ:SNCR) to Hold

StockNews.com lowered shares of Synchronoss Technologies (NASDAQ:SNCR) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Synchronoss Technologies Stock Performance

NASDAQ SNCR opened at $12.77 on Friday. The stock has a market capitalization of $137.81 million, a price-to-earnings ratio of -2.53 and a beta of 1.92. The stock has a 50-day moving average of $9.57 and a 200 day moving average of $8.86. The company has a current ratio of 1.78, a quick ratio of 1.85 and a debt-to-equity ratio of 6.68. Synchronoss Technologies has a twelve month low of $2.70 and a twelve month high of $13.97.

Insider Activity at Synchronoss Technologies

In other Synchronoss Technologies news, major shareholder B. Riley Financial, Inc. sold 30,867 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.48, for a total transaction of $354,353.16. Following the completion of the transaction, the insider now directly owns 1,281,681 shares in the company, valued at $14,713,697.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 214,546 shares of company stock valued at $2,510,749. 17.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synchronoss Technologies

Large investors have recently bought and sold shares of the company. AWM Investment Company Inc. lifted its position in shares of Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after acquiring an additional 41,824 shares in the last quarter. Renaissance Technologies LLC raised its stake in 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 purchasing an additional 6,700 shares during the last quarter. Bouvel Investment Partners LLC lifted its holdings in Synchronoss Technologies by 3.4% in 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 in the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Synchronoss Technologies during the 4th quarter worth $89,000. 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.