Synchronoss Technologies Inc. (SNCR) Director Sells $216,590.00 in Stock
Synchronoss Technologies Inc. (NASDAQ:SNCR) Director Donnie Moore sold 5,500 shares of the business’s stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $39.38, for a total transaction of $216,590.00. Following the transaction, the director now owns 25,592 shares in the company, valued at $1,007,812.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Donnie Moore also recently made the following trade(s):
- On Monday, September 12th, Donnie Moore sold 5,500 shares of Synchronoss Technologies stock. The shares were sold at an average price of $40.63, for a total transaction of $223,465.00.
Synchronoss Technologies Inc. (NASDAQ:SNCR) opened at 37.73 on Friday. Synchronoss Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $43.65. The stock has a 50 day moving average of $41.32 and a 200 day moving average of $36.53. The firm has a market capitalization of $1.64 billion, a PE ratio of 639.49 and a beta of 2.15.
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Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company earned $161.49 million during the quarter, compared to analyst estimates of $156.99 million. Synchronoss Technologies had a net margin of 0.52% and a return on equity of 13.12%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, equities analysts predict that Synchronoss Technologies Inc. will post $2.51 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, August 9th. Stephens assumed coverage on shares of Synchronoss Technologies in a research note on Wednesday, August 10th. They issued an “overweight” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.44.
A number of institutional investors have recently bought and sold shares of the stock. Capstone Asset Management Co. raised its position in Synchronoss Technologies by 1.2% in the third quarter. Capstone Asset Management Co. now owns 15,026 shares of the company’s stock valued at $619,000 after buying an additional 180 shares during the last quarter. Eqis Capital Management Inc. raised its position in Synchronoss Technologies by 19.0% in the third quarter. Eqis Capital Management Inc. now owns 28,605 shares of the company’s stock valued at $1,178,000 after buying an additional 4,577 shares during the last quarter. Beacon Financial Group raised its position in Synchronoss Technologies by 39.9% in the third quarter. Beacon Financial Group now owns 13,493 shares of the company’s stock valued at $556,000 after buying an additional 3,845 shares during the last quarter. Macquarie Group Ltd. bought a new position in Synchronoss Technologies during the second quarter valued at $1,220,000. Finally, Mason Street Advisors LLC bought a new position in Synchronoss Technologies during the second quarter valued at $251,000. Institutional investors own 81.29% of the company’s stock.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc (Synchronoss) offers cloud solutions and software-based activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Company operates in providing cloud solutions and software-based activation for connected devices segment. Its software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.
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