Two Sigma Advisers LP Makes New $404,000 Investment in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Two Sigma Advisers LP acquired a new stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,111 shares of the software maker’s stock, valued at approximately $404,000.

A number of other large investors have also modified their holdings of SNCR. Occudo Quantitative Strategies LP acquired a new stake in Synchronoss Technologies during the fourth quarter worth $98,000. American Century Companies Inc. bought a new position in shares of Synchronoss Technologies during the 4th quarter worth about $103,000. Barclays PLC boosted its position in shares of Synchronoss Technologies by 156.8% during the 4th 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 in the last quarter. Integrated Quantitative Investments LLC bought a new stake in Synchronoss Technologies in the fourth quarter valued at about $158,000. Finally, Ancora Advisors LLC bought a new stake in Synchronoss Technologies in the fourth quarter valued at about $163,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 6,979 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $10.50, for a total transaction of $73,279.50. Following the completion of the sale, the chief executive officer now directly owns 451,853 shares of the company’s stock, valued at $4,744,456.50. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the director now owns 47,632 shares of the company’s stock, valued at approximately $333,424. The trade was a 9.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,961 shares of company stock worth $279,021 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

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

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR opened at $6.92 on Thursday. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The business’s fifty day moving average price is $8.97 and its two-hundred day moving average price is $9.50. Synchronoss Technologies, Inc. has a fifty-two week low of $6.31 and a fifty-two week high of $15.46. The stock has a market capitalization of $79.57 million, a price-to-earnings ratio of -1.78 and a beta of 1.75.

Synchronoss Technologies (NASDAQ:SNCR) last issued its earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.10 by $0.75. The company had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. As a group, analysts predict that Synchronoss Technologies, Inc. will post 0.1 EPS for the current fiscal year.

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.