Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Martin Francis Bernstein Sells 6,036 Shares

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director Martin Francis Bernstein sold 6,036 shares of Synchronoss Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $14.14, for a total transaction of $85,349.04. Following the transaction, the director now directly owns 48,498 shares in the company, valued at $685,761.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Martin Francis Bernstein also recently made the following trade(s):

• On Wednesday, September 11th, Martin Francis Bernstein sold 7,792 shares of Synchronoss Technologies stock. The shares were sold at an average price of $13.66, for a total transaction of $106,438.72.
• On Monday, September 9th, Martin Francis Bernstein sold 2,319 shares of Synchronoss Technologies stock. The shares were sold at an average price of $14.20, for a total value of $32,929.80.

Synchronoss Technologies Stock Up 2.4 %

NASDAQ SNCR traded up $0.33 on Friday, reaching $14.00. The company had a trading volume of 98,761 shares, compared to its average volume of 80,871. The firm has a market capitalization of $151.48 million, a PE ratio of -2.78 and a beta of 1.95. The firm has a 50-day moving average of $11.62 and a 200-day moving average of $9.59. Synchronoss Technologies, Inc. has a 1 year low of $2.70 and a 1 year high of $15.45. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.78 and a quick ratio of 1.78.

Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Tuesday, August 6th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.39. The business had revenue of $43.46 million during the quarter, compared to the consensus estimate of $43.09 million. Synchronoss Technologies had a negative net margin of 16.97% and a positive return on equity of 28.60%. On average, equities research analysts anticipate that Synchronoss Technologies, Inc. will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Synchronoss Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNCR. Victory Capital Management Inc. acquired a new position in shares of Synchronoss Technologies in the fourth quarter worth about $89,000. Bouvel Investment Partners LLC raised its position in shares of 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. AWM Investment Company Inc. grew its position in shares of 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 buying an additional 41,824 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after buying an additional 20,368 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after acquiring an additional 6,700 shares in the last quarter. 51.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.