Synchronoss Technologies, Inc. (NASDAQ:SNCR) Major Shareholder B. Riley Financial, Inc. Sells 3,699 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 3,699 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $12.80, for a total value of $47,347.20. Following the completion of the sale, the insider now owns 1,036,605 shares in the company, valued at $13,268,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 Friday, August 16th, B. Riley Financial, Inc. sold 23,290 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.83, for a total value of $275,520.70.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The stock was 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 value of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.20, for a total value of $5,824.00.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR opened at $12.42 on Friday. The firm has a market capitalization of $134.04 million, a PE ratio of -2.46 and a beta of 1.92. 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 business has a 50-day moving average of $9.90 and a two-hundred day moving average of $8.98. Synchronoss Technologies, Inc. has a 12 month low of $2.70 and a 12 month high of $13.97.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Synchronoss Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bouvel Investment Partners LLC increased 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 acquiring an additional 2,518 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Synchronoss Technologies during the fourth quarter worth about $89,000. Dimensional Fund Advisors LP increased its stake in Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after acquiring an additional 20,368 shares during the last quarter. Renaissance Technologies LLC increased its stake in Synchronoss Technologies by 9.3% during 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 last quarter. Finally, AWM Investment Company Inc. increased its stake in Synchronoss Technologies by 8.5% during the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock worth $4,435,000 after acquiring an additional 41,824 shares during the last quarter. 51.71% of the stock is currently owned by institutional investors and hedge funds.

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.