Dynamic Technology Lab Private Ltd Takes $258,000 Position in Synchronoss Technologies, Inc. (SNCR)
Dynamic Technology Lab Private Ltd purchased a new stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,870 shares of the software maker’s stock, valued at approximately $258,000. Dynamic Technology Lab Private Ltd owned approximately 0.10% of Synchronoss Technologies at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in Synchronoss Technologies by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 335,057 shares of the software maker’s stock worth $3,535,000 after purchasing an additional 7,946 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Synchronoss Technologies in the 1st quarter worth about $188,000. Jane Street Group LLC bought a new position in Synchronoss Technologies in the 1st quarter worth about $353,000. Element Capital Management LLC bought a new position in Synchronoss Technologies in the 1st quarter worth about $361,000. Finally, Elk Creek Partners LLC grew its position in Synchronoss Technologies by 4.4% in the 1st quarter. Elk Creek Partners LLC now owns 2,596,962 shares of the software maker’s stock worth $27,398,000 after purchasing an additional 109,130 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.
NASDAQ SNCR opened at $5.64 on Monday. Synchronoss Technologies, Inc. has a 52 week low of $3.90 and a 52 week high of $15.69.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of Synchronoss Technologies from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Stifel Nicolaus cut shares of Synchronoss Technologies from a “hold” rating to a “sell” rating and decreased their target price for the stock from $8.00 to $3.00 in a research report on Monday, July 30th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The stock has an average rating of “Sell” and a consensus target price of $7.75.
In related news, Director William J. Cadogan acquired 96,152 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $5.87 per share, for a total transaction of $564,412.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Cadogan acquired 47,500 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was bought at an average price of $5.78 per share, with a total value of $274,550.00. The disclosure for this purchase can be found here. Insiders bought 200,000 shares of company stock valued at $1,130,281 over the last quarter. Insiders own 10.50% of the company’s stock.
About Synchronoss Technologies
Synchronoss Technologies, Inc provides cloud solutions and software-based activation for connected devices worldwide. The company's products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.
Further Reading: Beta
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