GSA Capital Partners LLP Takes Position in Synchronoss Technologies, Inc. (NASDAQ:SNCR)

GSA Capital Partners LLP purchased a new position in shares of Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,087 shares of the software maker’s stock, valued at approximately $165,000. GSA Capital Partners LLP owned approximately 0.10% of Synchronoss Technologies at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SNCR. Dimensional Fund Advisors LP lifted its stake in Synchronoss Technologies by 40.6% during the second quarter. Dimensional Fund Advisors LP now owns 70,504 shares of the software maker’s stock worth $654,000 after purchasing an additional 20,368 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Synchronoss Technologies by 9.3% in the second quarter. Renaissance Technologies LLC now owns 78,974 shares of the software maker’s stock valued at $734,000 after buying an additional 6,700 shares in the last quarter. AWM Investment Company Inc. grew its position in Synchronoss Technologies by 8.5% in the first quarter. AWM Investment Company Inc. now owns 531,110 shares of the software maker’s stock valued at $4,435,000 after acquiring an additional 41,824 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Synchronoss Technologies by 2.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 563,976 shares of the software maker’s stock valued at $8,395,000 after acquiring an additional 13,984 shares during the last quarter. 51.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.50, for a total value of $162,000.00. Following the completion of the transaction, the chief executive officer now directly owns 284,462 shares in the company, valued at approximately $3,840,237. This represents a 4.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Francis Bernstein sold 6,036 shares of Synchronoss Technologies stock in a transaction on Friday, September 13th. The stock was sold at an average price of $14.14, for a total transaction of $85,349.04. Following the transaction, the director now owns 48,498 shares in the company, valued at approximately $685,761.72. This trade represents a 11.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,165 shares of company stock valued at $513,165 in the last 90 days. Corporate insiders own 17.90% of the company’s stock.

Synchronoss Technologies Stock Up 6.6 %

Shares of NASDAQ:SNCR opened at $9.52 on Monday. Synchronoss Technologies, Inc. has a 52-week low of $3.55 and a 52-week high of $15.46. The company has a market capitalization of $103.19 million, a PE ratio of -2.45 and a beta of 1.99. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. The company has a fifty day moving average of $11.66 and a 200-day moving average of $10.85.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.