Frontier Capital Management Co. LLC Has $5.40 Million Stake in Synchronoss Technologies, Inc. (SNCR)

Frontier Capital Management Co. LLC Has $5.40 Million Stake in Synchronoss Technologies, Inc. (SNCR)

A number of other hedge funds have also recently modified their holdings of SNCR. State of Alaska Department of Revenue boosted its stake 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 period. Mckinley Capital Management LLC Delaware bought a new stake in Synchronoss Technologies during the first quarter valued at approximately $118,000. Ladenburg Thalmann Financial Services Inc. boosted its stake 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 period. Acrospire Investment Management LLC boosted its stake in 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 valued at $178,000 after buying an additional 7,267 shares during the period. Finally, First Trust Advisors LP bought a new stake in Synchronoss Technologies during the first quarter valued at approximately $212,000. 84.24% of the stock is currently owned by hedge funds and other institutional investors.

Frontier Capital Management Co. LLC decreased its stake in Synchronoss Technologies, Inc. (NASDAQ:SNCR) by 66.0% during the first quarter, Holdings Channel reports. The institutional investor owned 221,158 shares of the software maker’s stock after selling 429,642 shares during the period. Frontier Capital Management Co. LLC’s holdings in Synchronoss Technologies were worth $5,396,000 at the end of the most recent reporting period.

Several analysts have recently commented on SNCR shares. Deutsche Bank AG cut shares of Synchronoss Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $50.00 to $35.00 in a research note on Thursday, February 9th. Stifel Nicolaus decreased their price target on shares of Synchronoss Technologies from $40.00 to $32.00 and set a “hold” rating on the stock in a research note on Thursday, February 9th. Zacks Investment Research raised shares of Synchronoss Technologies from a “strong sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research note on Tuesday, February 14th. Wells Fargo & Co reissued an “outperform” rating and set a $35.00 price target (down from $43.00) on shares of Synchronoss Technologies in a research note on Sunday, April 2nd. Finally, JPMorgan Chase & Co. cut shares of Synchronoss Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $65.00 to $27.00 in a research note on Thursday, April 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Synchronoss Technologies has an average rating of “Hold” and a consensus price target of $29.50.

In other Synchronoss Technologies news, insider Robert Garcia sold 1,695 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $25.66, for a total transaction of $43,493.70. Following the sale, the insider now directly owns 77,312 shares of the company’s stock, valued at approximately $1,983,825.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Silver Private Holdings I, Llc bought 1,357,383 shares of Synchronoss Technologies stock in a transaction on Thursday, May 4th. The shares were acquired at an average cost of $15.89 per share, for a total transaction of $21,568,815.87. The disclosure for this purchase can be found here. Insiders have sold a total of 4,471 shares of company stock worth $116,652 over the last three months. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SNCR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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