Insider Selling: Synchronoss Technologies President Sells 10,500 Shares of Stock (SNCR)
Synchronoss Technologies (NASDAQ:SNCR) President Robert Garcia sold 10,500 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $42.74, for a total value of $448,770.00. Following the completion of the transaction, the president now directly owns 88,508 shares in the company, valued at approximately $3,782,832. The sale was disclosed in a document filed with the SEC, which is available at this link.
Synchronoss Technologies (NASDAQ:SNCR) traded up 0.02% on Wednesday, hitting $43.79. 435,332 shares of the company’s stock traded hands. Synchronoss Technologies has a 52 week low of $25.28 and a 52 week high of $43.98. The stock has a 50-day moving average of $37.92 and a 200-day moving average of $34.03. The company has a market cap of $1.765 billion and a P/E ratio of 50.67.
Synchronoss Technologies (NASDAQ:SNCR) last released its earnings data on Tuesday, July 29th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.01. The company had revenue of $103.50 million for the quarter, compared to the consensus estimate of $102.22 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. On average, analysts predict that Synchronoss Technologies will post $1.69 earnings per share for the current fiscal year.
A number of research firms have recently commented on SNCR. Analysts at Stifel Nicolaus raised their price target on shares of Synchronoss Technologies from $46.00 to $49.00 in a research note on Thursday, July 31st. Separately, analysts at Wedbush raised their price target on shares of Synchronoss Technologies from $45.00 to $50.00 in a research note on Thursday, July 31st. Finally, analysts at Credit Suisse raised their price target on shares of Synchronoss Technologies from $46.00 to $56.00 in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $43.67.
Synchronoss Technologies, Inc (NASDAQ:SNCR) is a provider of on-demand transaction management solutions.
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