BlackRock Inc. increased its stake in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,639,895 shares of the software maker’s stock after buying an additional 517,759 shares during the quarter. BlackRock Inc. owned about 0.12% of Synchronoss Technologies worth $50,421,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SNCR. SG Americas Securities LLC bought a new position in Synchronoss Technologies during the 3rd quarter worth $119,000. Teacher Retirement System of Texas bought a new position in Synchronoss Technologies during the 4th quarter worth $149,000. Municipal Employees Retirement System of Michigan grew its stake in Synchronoss Technologies by 60.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock worth $151,000 after buying an additional 6,080 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Synchronoss Technologies by 60.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 22,111 shares of the software maker’s stock worth $206,000 after buying an additional 8,316 shares during the last quarter. Finally, Fox Run Management L.L.C. grew its stake in shares of Synchronoss Technologies by 97.6% in the fourth quarter. Fox Run Management L.L.C. now owns 35,175 shares of the software maker’s stock worth $314,000 after purchasing an additional 17,375 shares in the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.
NASDAQ:SNCR opened at $10.59 on Friday. Synchronoss Technologies, Inc. has a 1 year low of $6.51 and a 1 year high of $24.92. The firm has a market capitalization of $509.83, a PE ratio of 14.92 and a beta of 0.94.
Several research analysts have recently issued reports on SNCR shares. BidaskClub cut Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 9th. Zacks Investment Research raised Synchronoss Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Synchronoss Technologies currently has an average rating of “Hold” and an average price target of $13.29.
In other news, insider Robert Garcia sold 27,116 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.94, for a total value of $242,417.04. Following the completion of the transaction, the insider now owns 173,980 shares of the company’s stock, valued at $1,555,381.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Stephen G. Waldis sold 36,624 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $8.92, for a total value of $326,686.08. Following the completion of the transaction, the chairman now directly owns 542,770 shares of the company’s stock, valued at approximately $4,841,508.40. The disclosure for this sale can be found here. In the last three months, insiders sold 98,776 shares of company stock valued at $876,377. Company insiders own 10.50% of the company’s stock.
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Synchronoss Technologies 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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