Allspring Global Investments Holdings LLC Decreases Stock Holdings in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Allspring Global Investments Holdings LLC decreased its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 547,104 shares of the software maker’s stock after selling 27,895 shares during the period. Allspring Global Investments Holdings LLC owned about 4.76% of Synchronoss Technologies worth $6,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNCR. Occudo Quantitative Strategies LP purchased a new stake in Synchronoss Technologies during the 4th quarter valued at $98,000. American Century Companies Inc. purchased a new stake in Synchronoss Technologies during the fourth quarter valued at $103,000. Barclays PLC lifted its holdings in Synchronoss Technologies by 156.8% in the fourth quarter. Barclays PLC now owns 14,726 shares of the software maker’s stock valued at $141,000 after acquiring an additional 8,992 shares during the period. Integrated Quantitative Investments LLC purchased a new position in Synchronoss Technologies in the fourth quarter worth about $158,000. Finally, Ancora Advisors LLC purchased a new position in Synchronoss Technologies in the fourth quarter worth about $163,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jeffrey George Miller sold 7,913 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $7.06, for a total value of $55,865.78. Following the transaction, the chief executive officer directly owned 429,647 shares of the company’s stock, valued at approximately $3,033,307.82. This trade represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laurie Harris sold 4,800 shares of Synchronoss Technologies stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $7.00, for a total value of $33,600.00. Following the transaction, the director owned 47,632 shares in the company, valued at $333,424. This trade represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,878 shares of company stock valued at $390,835. Insiders own 19.90% of the company’s stock.

Synchronoss Technologies Stock Down 3.0%

Shares of SNCR stock opened at $7.39 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 5.23. Synchronoss Technologies, Inc. has a 12 month low of $6.00 and a 12 month high of $15.46. The stock has a market cap of $84.93 million, a P/E ratio of -35.16 and a beta of 1.72. The company has a 50 day simple moving average of $7.43 and a two-hundred day simple moving average of $9.05.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research report on Friday, March 14th.

Synchronoss Technologies Company Profile

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.