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Jeffrey George Miller, the Chief Executive Officer of Synchronoss Technologies Inc. (NASDAQ:SNCR), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Miller sold 6,289 shares of common stock on May 1, 2025, at an average price of $10.221 per share. The total value of the transaction amounted to $64,279. The stock, currently trading at $10.66, has shown remarkable performance with a 65% return over the past year, despite its characteristic volatility. The company maintains impressive gross profit margins of 77.5% and appears slightly undervalued according to InvestingPro analysis.
Following this sale, Miller retains ownership of 445,564 shares in the company. For investors seeking deeper insights, InvestingPro offers 11 additional key tips and a comprehensive research report for Synchronoss Technologies, helping you make more informed investment decisions. The transaction was conducted under an approved Rule 10b5-1 trading plan, which was designed to cover tax obligations associated with the vesting of restricted stock.
In other recent news, Synchronoss Technologies reported a 6.8% year-over-year increase in revenue for the fourth quarter of 2024, reaching $44.2 million. The company’s full-year revenue for 2024 rose by 5.7% to $173.6 million, with a net income of $4.6 million. Synchronoss has completed its transition to a high-margin cloud solutions provider, with over 90% of its 2025 revenue secured through multi-year contracts. The company projects revenue between $170 million and $180 million for 2025, with an adjusted gross margin of 78% to 80% and adjusted EBITDA between $52 million and $56 million. In terms of future growth, Synchronoss is focusing on subscriber growth and new customer acquisitions, leveraging its enhanced cloud platform. The company also signed significant multi-year contract extensions with AT&T and SFR, further solidifying its revenue base. Additionally, Synchronoss introduced Capsule, a branded personal cloud product, aiming to expand its reach to smaller and international operators.
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