Comerica Bank increased its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,770 shares of the software maker’s stock after buying an additional 6,455 shares during the period. Comerica Bank owned approximately 0.23% of Synchronoss Technologies worth $1,339,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position 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 during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position 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 during the last quarter. First Trust Advisors LP bought a new position in Synchronoss Technologies during the first quarter valued at $212,000. BNP Paribas Arbitrage SA raised its position in Synchronoss Technologies by 13.9% in the first quarter. BNP Paribas Arbitrage SA now owns 8,792 shares of the software maker’s stock valued at $215,000 after buying an additional 1,072 shares during the last quarter. Finally, Atria Investments LLC raised its position in Synchronoss Technologies by 39.7% in the first quarter. Atria Investments LLC now owns 9,398 shares of the software maker’s stock valued at $229,000 after buying an additional 2,672 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.
Shares of Synchronoss Technologies, Inc. (NASDAQ SNCR) opened at 10.81 on Friday. Synchronoss Technologies, Inc. has a 12-month low of $10.36 and a 12-month high of $49.94. The stock has a market capitalization of $475.46 million, a P/E ratio of 24.02 and a beta of 1.76. The firm’s 50-day moving average is $13.72 and its 200 day moving average is $28.13.
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Several equities analysts recently weighed in on SNCR shares. Drexel Hamilton lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $15.00 price objective (down from $35.00) on shares of Synchronoss Technologies in a report on Saturday, April 29th. Stifel Nicolaus dropped their price objective on shares of Synchronoss Technologies from $32.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Finally, Zacks Investment Research downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Saturday, April 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Synchronoss Technologies presently has an average rating of “Hold” and an average target price of $26.86.
In related news, insider Robert Garcia sold 1,695 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $25.66, for a total transaction of $43,493.70. Following the completion of the transaction, the insider now directly owns 77,312 shares in the company, valued at approximately $1,983,825.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Silver Private Holdings I, Llc acquired 1,357,383 shares of the business’s stock in a transaction that occurred on 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. Insiders own 11.00% of the company’s stock.
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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