Synchronoss Technologies (NASDAQ:SNCR) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.69 and traded as high as $11.80. Synchronoss Technologies shares last traded at $11.07, with a volume of 85,550 shares.

Analyst Ratings Changes

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

Synchronoss Technologies Trading Down 4.7 %

The company has a 50 day moving average of $12.40 and a 200 day moving average of $10.72. The firm has a market cap of $119.76 million, a price-to-earnings ratio of -2.87 and a beta of 1.99. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 6.68.

Insider Transactions at Synchronoss Technologies

In related news, CFO Lou Ferraro sold 5,768 shares of Synchronoss Technologies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.60, for a total transaction of $78,444.80. Following the completion of the transaction, the chief financial officer now directly owns 83,556 shares of the company’s stock, valued at $1,136,361.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Martin Francis Bernstein sold 2,319 shares of Synchronoss Technologies stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $14.20, for a total value of $32,929.80. Following the completion of the sale, the director now directly owns 63,456 shares in the company, valued at $901,075.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lou Ferraro sold 5,768 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.60, for a total transaction of $78,444.80. Following the transaction, the chief financial officer now owns 83,556 shares in the company, valued at approximately $1,136,361.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,364 shares of company stock valued at $1,874,939. 17.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Synchronoss Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SNCR. GSA Capital Partners LLP acquired a new stake in Synchronoss Technologies during the 3rd quarter worth $165,000. Allspring Global Investments Holdings LLC boosted its position in shares of Synchronoss Technologies by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock worth $8,395,000 after purchasing an additional 13,984 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 6,700 shares during the period. Dimensional Fund Advisors LP increased its holdings in Synchronoss Technologies by 40.6% in the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock valued at $654,000 after purchasing an additional 20,368 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its stake in Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after buying an additional 41,824 shares during the period. 51.71% of the stock is owned by institutional investors.

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.