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Jeffrey George Miller, the Chief Executive Officer of Synchronoss Technologies Inc. (NASDAQ:SNCR), a $98 million market cap company with impressive 77% gross profit margins, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. InvestingPro data shows management has been actively managing their positions, with the stock currently trading at $9.50. On February 13, Miller sold 17,389 shares of common stock at a price of $10.34 per share, totaling $179,802.
In addition to the sale, Miller also acquired shares on two occasions. On February 13, he acquired 69,159 shares at $10.34 each, and on February 20, he acquired 122,600 shares at $9.76 each. These acquisitions were made as part of performance shares and restricted stock grants, collectively valued at $1,911,680. Following these transactions, Miller’s total holdings in the company stand at 458,832 shares.
In other recent news, Synchronoss Technologies, Inc. has announced a three-year contract extension with a major U.S. telecommunications provider. This agreement continues the use of Synchronoss Personal Cloud™, which offers subscribers secure backup, management, and sharing of digital content across devices and the cloud. The platform, known for its white-label cloud solutions, integrates artificial intelligence to provide advanced features for organizing and enhancing digital content. Synchronoss aims to strengthen its market position by offering innovative cloud services tailored to service providers and their customers. This strategic move is expected to help service providers monetize cloud services and potentially reduce subscriber turnover. Synchronoss emphasizes data security and privacy, offering flexible service plans that include basic, value-added, and premium options. The announcement highlights the company’s focus on enhancing revenue streams and reducing expenses for service providers while ensuring the security of users’ digital content.
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