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.
Shares of Synchronoss Technologies, Inc. (NASDAQ SNCR) traded up $0.02 during trading on Wednesday, hitting $10.46. The stock had a trading volume of 533,896 shares, compared to its average volume of 996,484. The stock has a market capitalization of $496.05, a P/E ratio of 23.73 and a beta of 1.08. Synchronoss Technologies, Inc. has a 12-month low of $6.51 and a 12-month high of $26.89.
Several institutional investors have recently modified their holdings of the company. Siris Capital Group LLC purchased a new stake in shares of Synchronoss Technologies in the fourth quarter worth approximately $53,592,000. BlackRock Inc. boosted its stake in shares of Synchronoss Technologies by 10.1% during the fourth quarter. BlackRock Inc. now owns 5,639,895 shares of the software maker’s stock valued at $50,421,000 after purchasing an additional 517,759 shares in the last quarter. Elk Creek Partners LLC boosted its stake in shares of Synchronoss Technologies by 3.5% during the third quarter. Elk Creek Partners LLC now owns 2,420,323 shares of the software maker’s stock valued at $22,582,000 after purchasing an additional 81,228 shares in the last quarter. State Street Corp boosted its stake in shares of Synchronoss Technologies by 8.1% during the second quarter. State Street Corp now owns 1,054,586 shares of the software maker’s stock valued at $17,346,000 after purchasing an additional 78,729 shares in the last quarter. Finally, Smith Graham & Co. Investment Advisors LP boosted its stake in shares of Synchronoss Technologies by 2.0% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 778,868 shares of the software maker’s stock valued at $6,963,000 after purchasing an additional 15,230 shares in the last quarter. 81.33% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. Credit Suisse Group reaffirmed an “underperform” rating and set a $8.00 price target (down from $13.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. Deutsche Bank reaffirmed a “hold” rating and set a $8.00 price target (down from $18.00) on shares of Synchronoss Technologies in a research note on Thursday, December 7th. BidaskClub downgraded Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Finally, Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note 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.
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Synchronoss Technologies Company Profile
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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