Digimarc (NASDAQ:DMRC) Shares Gap Up to $22.61

Digimarc Co. (NASDAQ:DMRC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $22.61, but opened at $24.08. Digimarc shares last traded at $24.89, with a volume of 64,229 shares.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum reduced their price objective on shares of Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research note on Friday.

Digimarc Price Performance

The firm has a 50-day moving average of $27.33 and a 200-day moving average of $31.70. The stock has a market cap of $489.01 million, a PE ratio of -9.92 and a beta of 1.18.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, February 28th. The information technology services provider reported ($0.41) earnings per share (EPS) for the quarter. The company had revenue of $9.28 million during the quarter. Digimarc had a negative net margin of 131.87% and a negative return on equity of 50.45%.

Insiders Place Their Bets

In related news, EVP Tony Rodriguez sold 2,000 shares of Digimarc stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $26.91, for a total transaction of $53,820.00. Following the completion of the transaction, the executive vice president now directly owns 41,259 shares of the company’s stock, valued at approximately $1,110,279.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Milena Alberti-Perez sold 4,900 shares of Digimarc stock in a transaction on Monday, March 11th. The stock was sold at an average price of $30.84, for a total transaction of $151,116.00. Following the completion of the sale, the director now directly owns 14,487 shares in the company, valued at $446,779.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tony Rodriguez sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $26.91, for a total transaction of $53,820.00. Following the completion of the transaction, the executive vice president now owns 41,259 shares in the company, valued at $1,110,279.69. The disclosure for this sale can be found here. 20.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Digimarc

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in shares of Digimarc by 18.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,824 shares of the information technology services provider’s stock valued at $102,000 after acquiring an additional 443 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Digimarc in the 4th quarter worth $133,000. Barclays PLC raised its holdings in shares of Digimarc by 79.0% in the third quarter. Barclays PLC now owns 5,070 shares of the information technology services provider’s stock valued at $165,000 after acquiring an additional 2,238 shares in the last quarter. McCollum Christoferson Group LLC purchased a new stake in Digimarc in the third quarter worth about $231,000. Finally, Kestra Advisory Services LLC purchased a new position in Digimarc during the 3rd quarter valued at about $240,000. 66.85% of the stock is owned by hedge funds and other institutional investors.

About Digimarc

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.