Laurion Capital Management LP Takes Position in Synchronoss Technologies, Inc. (SNCR)

Laurion Capital Management LP purchased a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,500 shares of the software maker’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of 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 worth $115,000 after buying an additional 180 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Synchronoss Technologies during the first quarter worth $118,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of 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 worth $152,000 after buying an additional 197 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Synchronoss Technologies by 55,900.0% in the first quarter. Acrospire Investment Management LLC now owns 7,280 shares of the software maker’s stock worth $178,000 after buying an additional 7,267 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Synchronoss Technologies during the first quarter worth $212,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Institutional Ownership by Quarter for Synchronoss Technologies (NASDAQ:SNCR)

Shares of Synchronoss Technologies, Inc. (NASDAQ SNCR) traded down 0.92% on Friday, reaching $10.81. The company’s stock had a trading volume of 1,531,747 shares. The company has a 50 day moving average price of $13.72 and a 200 day moving average price of $28.13. Synchronoss Technologies, Inc. has a 52-week low of $10.36 and a 52-week high of $49.94. The company has a market cap of $475.46 million, a P/E ratio of 24.02 and a beta of 1.76.

TRADEMARK VIOLATION WARNING: “Laurion Capital Management LP Takes Position in Synchronoss Technologies, Inc. (SNCR)” was originally published by WKRB News and is the property of of WKRB News. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.wkrb13.com/markets/2230409/laurion-capital-management-lp-takes-position-in-synchronoss-technologies-inc-sncr.html.

A number of brokerages have recently weighed in on SNCR. Credit Suisse Group downgraded Synchronoss Technologies from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $13.00 in a report on Thursday, April 27th. Zacks Investment Research downgraded Synchronoss Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Wells Fargo & Company downgraded Synchronoss Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Drexel Hamilton downgraded Synchronoss Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $15.00 price target (down previously from $35.00) on shares of Synchronoss Technologies in a report on Saturday, April 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.86.

In related news, EVP David Schuette sold 1,081 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $26.25, for a total value of $28,376.25. Following the sale, the executive vice president now owns 49,093 shares in the company, valued at approximately $1,288,691.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Garcia sold 1,695 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 77,312 shares in the company, valued at approximately $1,983,825.92. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

About Synchronoss Technologies

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.

Want to see what other hedge funds are holding SNCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchronoss Technologies, Inc. (NASDAQ:SNCR).

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2230409/laurion-capital-management-lp-takes-position-in-synchronoss-technologies-inc-sncr.html

Receive News & Ratings for Synchronoss Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.