ValuEngine cut shares of Synchronoss Technologies (NASDAQ:SNCR) from a buy rating to a hold rating in a research note issued to investors on Monday, February 25th.
SNCR has been the topic of a number of other research reports. Zacks Investment Research downgraded Synchronoss Technologies from a buy rating to a hold rating in a research report on Saturday, February 9th. Stifel Nicolaus raised Synchronoss Technologies from a sell rating to a hold rating and increased their target price for the company from $3.00 to $7.00 in a research note on Monday, December 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $6.88.
SNCR traded down $0.05 during midday trading on Monday, reaching $6.41. 221,493 shares of the company were exchanged, compared to its average volume of 343,715. The firm has a market capitalization of $273.64 million, a P/E ratio of -1.31 and a beta of 0.70. Synchronoss Technologies has a one year low of $3.90 and a one year high of $12.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.99 and a current ratio of 1.21.
In other news, Chairman Stephen G. Waldis sold 6,539 shares of Synchronoss Technologies stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $7.79, for a total transaction of $50,938.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn Lurie sold 14,634 shares of Synchronoss Technologies stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $7.98, for a total transaction of $116,779.32. The disclosure for this sale can be found here. Insiders sold 37,907 shares of company stock valued at $300,392 over the last 90 days. 34.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in Synchronoss Technologies in the 4th quarter worth $2,073,000. Norges Bank purchased a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $1,612,000. Dimensional Fund Advisors LP purchased a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $9,209,000. Millennium Management LLC purchased a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $877,000. Finally, Jane Street Group LLC purchased a new stake in shares of Synchronoss Technologies during the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 39.09% of the company’s stock.
About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
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