B. Riley Financial, Inc. Sells 9,819 Shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) Stock

Synchronoss Technologies, Inc. (NASDAQ:SNCR) major shareholder B. Riley Financial, Inc. sold 9,819 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $12.82, for a total value of $125,879.58. Following the transaction, the insider now owns 1,026,712 shares of the company’s stock, valued at $13,162,447.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

B. Riley Financial, Inc. also recently made the following trade(s):

• On Monday, August 26th, B. Riley Financial, Inc. sold 32,678 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.84, for a total value of $419,585.52.
• On Wednesday, August 21st, B. Riley Financial, Inc. sold 3,699 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.80, for a total value of $47,347.20.
• On Monday, August 19th, B. Riley Financial, Inc. sold 40,713 shares of Synchronoss Technologies stock. The shares were sold at an average price of $12.12, for a total value of $493,441.56.
• On Friday, August 16th, B. Riley Financial, Inc. sold 23,290 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.83, for a total value of $275,520.70.
• On Wednesday, August 14th, B. Riley Financial, Inc. sold 61,690 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.73, for a total value of $723,623.70.
• On Monday, August 12th, B. Riley Financial, Inc. sold 30,867 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.48, for a total value of $354,353.16.
• On Friday, August 9th, B. Riley Financial, Inc. sold 57,466 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.45, for a total value of $657,985.70.
• On Wednesday, August 7th, B. Riley Financial, Inc. sold 520 shares of Synchronoss Technologies stock. The stock was sold at an average price of $11.20, for a total value of $5,824.00.

Synchronoss Technologies Stock Up 7.2 %

Shares of Synchronoss Technologies stock opened at $13.75 on Wednesday. The firm has a market cap of $148.39 million, a price-to-earnings ratio of -2.73 and a beta of 1.92. The company has a debt-to-equity ratio of 6.68, a current ratio of 1.78 and a quick ratio of 1.78. Synchronoss Technologies, Inc. has a 52-week low of $2.70 and a 52-week high of $14.00. The stock has a 50-day simple moving average of $10.21 and a 200-day simple moving average of $9.16.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Tuesday, August 6th. The software maker reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.39. The business had revenue of $43.46 million for the quarter, compared to analysts’ expectations of $43.09 million. Synchronoss Technologies had a positive return on equity of 28.60% and a negative net margin of 16.97%. On average, equities research analysts expect that Synchronoss Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synchronoss Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after purchasing an additional 6,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 20,368 shares during the last quarter. AWM Investment Company Inc. lifted its position in shares of 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 last quarter. Bouvel Investment Partners LLC lifted its holdings in Synchronoss Technologies by 3.4% during the 1st quarter. Bouvel Investment Partners LLC now owns 76,847 shares of the software maker’s stock worth $642,000 after purchasing an additional 2,518 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Synchronoss Technologies during the 4th quarter worth approximately $89,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.