Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw unusually large options trading activity on Wednesday. Traders acquired 1,158 put options on the company. This represents an increase of approximately 881% compared to the average volume of 118 put options.

In other Synchronoss Technologies news, CEO Glenn Lurie sold 14,634 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $7.98, for a total value of $116,779.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stephen G. Waldis sold 8,880 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $8.13, for a total transaction of $72,194.40. The disclosure for this sale can be found here. Insiders sold a total of 37,907 shares of company stock worth $300,392 in the last 90 days. 34.90% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. United Services Automobile Association purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth approximately $72,000. Jane Street Group LLC purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth approximately $73,000. Investors Research Corp purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth approximately $74,000. Saturna Capital CORP purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth approximately $92,000. Finally, Synovus Financial Corp purchased a new stake in shares of Synchronoss Technologies during the 4th quarter worth approximately $103,000. Institutional investors own 39.09% of the company’s stock.

SNCR has been the subject of several analyst reports. Stifel Nicolaus upgraded shares of Synchronoss Technologies from a “sell” rating to a “hold” rating and increased their price objective for the company from $3.00 to $7.00 in a research note on Monday, December 10th. Zacks Investment Research upgraded shares of Synchronoss Technologies from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Friday, November 16th. Finally, ValuEngine lowered shares of Synchronoss Technologies from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $6.75.

Shares of SNCR stock opened at $6.69 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.03. Synchronoss Technologies has a 12-month low of $3.90 and a 12-month high of $12.12.

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Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its 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.

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