Guess Who Picked Synchronoss Technologies Inc (NASDAQ:SNCR) Shares


In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Synchronoss Technologies Inc (NASDAQ:SNCR) reported that Siris Capital Group, Llc. has picked up 5,994,667 of common stock as of 2017-05-22.

The acquisition brings the aggregate amount owned by Siris Capital Group, Llc. to a total of 5,994,667 representing less than 12.93% stake in the company.

For those not familiar with the company, 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. Its products and platforms are designed to enable multiple converged communication services to be managed across a range of distribution channels, including e-commerce, m-commerce, telesales, customer stores, indirect and other retail outlets. The Company operates in and markets their solutions and services directly through their sales organizations in North America, Europe, the Middle East and Africa (EMEA), Latin America and the Asia-Pacific region. It delivers technologies for mobile transformation to service provider and enterprise customers in regulated verticals and use cases.

A glance at Synchronoss Technologies Inc (NASDAQ:SNCR)’s key stats reveals a current market capitalization of 600.48 Million based on 46.37 Million shares outstanding and a price at last close of $12.82 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-05-04, Silver picked up 48,584 at a purchase price of $16.19. This brings their total holding to 5,994,667 as of the date of the filing.

On the sell side, the most recent transaction saw Schuette unload 1,081 shares at a sale price of $26.25. This brings their total holding to 49,093.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Synchronoss Technologies Inc (NASDAQ:SNCR) as things move forward to see if its progress aligns with these transactions.

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