Chatham Capital Group Inc. cut its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,601 shares of the software maker’s stock after selling 2,149 shares during the period. Chatham Capital Group Inc. owned 0.08% of Synchronoss Technologies worth $820,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Synchronoss Technologies by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,965 shares of the software maker’s stock valued at $152,000 after buying an additional 197 shares in the last quarter. Synovus Financial Corp acquired a new stake in Synchronoss Technologies during the third quarter valued at approximately $183,000. State of Alaska Department of Revenue boosted its stake in Synchronoss Technologies by 4.0% in the first quarter. State of Alaska Department of Revenue now owns 4,720 shares of the software maker’s stock valued at $115,000 after buying an additional 180 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in Synchronoss Technologies during the third quarter valued at approximately $206,000. Finally, Massmutual Trust Co. FSB ADV acquired a new stake in Synchronoss Technologies during the fourth quarter valued at approximately $259,000. 93.21% of the stock is owned by institutional investors and hedge funds.
Synchronoss Technologies, Inc. (SNCR) traded down 0.92% during trading on Friday, hitting $10.81. The stock had a trading volume of 1,531,747 shares. The stock has a market cap of $475.46 million, a PE ratio of 24.02 and a beta of 1.76. Synchronoss Technologies, Inc. has a 1-year low of $10.36 and a 1-year high of $49.94. The firm’s 50-day moving average price is $13.72 and its 200-day moving average price is $28.13.
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Several analysts have recently commented on SNCR shares. Raymond James Financial, Inc. cut Synchronoss Technologies from a “strong-buy” rating to an “outperform” rating in a report on Monday, May 1st. Zacks Investment Research cut Synchronoss Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Stifel Nicolaus reduced their price target on Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating for the company in a report on Friday, April 28th. J P Morgan Chase & Co cut Synchronoss Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $27.00 in a report on Thursday, April 27th. Finally, Wells Fargo & Company cut Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Synchronoss Technologies presently has an average rating of “Hold” and an average price target of $26.86.
In other news, EVP David Schuette sold 1,081 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $26.25, for a total transaction of $28,376.25. Following the completion of the sale, the executive vice president now owns 49,093 shares in the company, valued at approximately $1,288,691.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Silver Private Holdings I, Llc acquired 1,357,383 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were bought at an average price of $15.89 per share, with a total value of $21,568,815.87. The disclosure for this purchase can be found here. 11.00% of the stock is currently owned by corporate insiders.
Synchronoss Technologies Company Profile
Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.
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