Synchronoss Technologies, Inc. (NASDAQ:SNCR) insider Robert Garcia sold 27,116 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $8.94, for a total value of $242,417.04. Following the sale, the insider now owns 173,980 shares in the company, valued at approximately $1,555,381.20. The sale was disclosed in a filing with the SEC, which is available through this link.
Synchronoss Technologies, Inc. (NASDAQ:SNCR) traded up $0.02 during mid-day trading on Wednesday, reaching $10.46. The company had a trading volume of 533,896 shares, compared to its average volume of 996,484. Synchronoss Technologies, Inc. has a fifty-two week low of $6.51 and a fifty-two week high of $26.89. The firm has a market cap of $496.05, a P/E ratio of 23.73 and a beta of 1.08.
SNCR has been the topic of several research analyst reports. Credit Suisse Group restated an “underperform” rating and set a $8.00 target price (down previously from $13.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. Deutsche Bank restated a “hold” rating and set a $8.00 target price (down previously from $18.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. BidaskClub lowered Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Finally, Zacks Investment Research upgraded Synchronoss Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.57.
A number of hedge funds have recently bought and sold shares of SNCR. Siris Capital Group LLC acquired a new position in Synchronoss Technologies during the 4th quarter worth approximately $53,592,000. BlackRock Inc. raised its stake in shares of Synchronoss Technologies by 10.1% in the fourth quarter. BlackRock Inc. now owns 5,639,895 shares of the software maker’s stock worth $50,421,000 after purchasing an additional 517,759 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Synchronoss Technologies by 108.5% in the third quarter. State of Wisconsin Investment Board now owns 679,010 shares of the software maker’s stock worth $6,335,000 after purchasing an additional 353,388 shares during the last quarter. Millennium Management LLC raised its stake in shares of Synchronoss Technologies by 512.7% in the fourth quarter. Millennium Management LLC now owns 229,321 shares of the software maker’s stock worth $2,050,000 after purchasing an additional 191,896 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Synchronoss Technologies by 53.6% in the fourth quarter. Two Sigma Investments LP now owns 547,832 shares of the software maker’s stock worth $4,898,000 after purchasing an additional 191,084 shares during the last quarter. 81.33% of the stock is currently owned by institutional investors and hedge funds.
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About Synchronoss Technologies
Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.
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