Insider Selling: Synchronoss Technologies, Inc. (SNCR) CEO Sells 26,769 Shares of Stock
Synchronoss Technologies, Inc. (NASDAQ:SNCR) CEO Glenn Lurie sold 26,769 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $5.92, for a total transaction of $158,472.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Synchronoss Technologies stock traded up $0.06 during mid-day trading on Tuesday, reaching $6.35. 313,100 shares of the stock were exchanged, compared to its average volume of 736,585. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.03. Synchronoss Technologies, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $12.12.
Synchronoss Technologies (NASDAQ:SNCR) last announced its earnings results on Wednesday, November 7th. The software maker reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.47). The firm had revenue of $83.30 million for the quarter, compared to analyst estimates of $83.00 million. Synchronoss Technologies had a negative return on equity of 48.08% and a negative net margin of 36.27%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts predict that Synchronoss Technologies, Inc. will post -2.62 EPS for the current year.
Several institutional investors have recently made changes to their positions in SNCR. FNY Investment Advisers LLC acquired a new stake in shares of Synchronoss Technologies during the 3rd quarter worth about $171,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Synchronoss Technologies during the 2nd quarter worth about $258,000. Finally, Principal Financial Group Inc. increased its position in shares of Synchronoss Technologies by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock worth $3,535,000 after purchasing an additional 7,946 shares in the last quarter. Institutional investors and hedge funds own 10.97% of the company’s stock.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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