Digimarc (NASDAQ:DMRC) Upgraded at Needham & Company LLC

Digimarc (NASDAQ:DMRC) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage presently has a $40.00 price objective on the information technology services provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 32.85% from the company’s current price.

Separately, Craig Hallum cut their price target on Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a report on Friday, May 3rd.

Digimarc Stock Performance

Shares of NASDAQ:DMRC opened at $30.11 on Monday. Digimarc has a 52 week low of $21.00 and a 52 week high of $43.43. The company’s fifty day moving average is $25.35 and its 200-day moving average is $30.64. The company has a market capitalization of $643.54 million, a PE ratio of -14.48 and a beta of 1.62.

Digimarc (NASDAQ:DMRC) last issued its earnings results on Thursday, May 2nd. The information technology services provider reported ($0.41) EPS for the quarter. Digimarc had a negative net margin of 114.38% and a negative return on equity of 46.01%. The firm had revenue of $9.94 million during the quarter.

Insider Activity at Digimarc

In related news, Director Alicia Syrett sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $22.87, for a total value of $34,305.00. Following the completion of the transaction, the director now directly owns 29,687 shares in the company, valued at approximately $678,941.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Digimarc news, Director Kathleen Kool sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the completion of the transaction, the director now owns 21,383 shares of the company’s stock, valued at approximately $513,619.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alicia Syrett sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $22.87, for a total value of $34,305.00. Following the transaction, the director now directly owns 29,687 shares of the company’s stock, valued at approximately $678,941.69. The disclosure for this sale can be found here. In the last three months, insiders sold 11,846 shares of company stock worth $289,707. 19.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Digimarc

Large investors have recently bought and sold shares of the company. Woodson Capital Management LP bought a new stake in shares of Digimarc during the 1st quarter worth approximately $2,718,000. Price T Rowe Associates Inc. MD raised its stake in shares of Digimarc by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock worth $413,000 after purchasing an additional 495 shares in the last quarter. Beaconlight Capital LLC raised its stake in shares of Digimarc by 34.7% during the 1st quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock worth $21,147,000 after purchasing an additional 200,251 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Digimarc by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after purchasing an additional 19,460 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Digimarc during the 1st quarter worth approximately $361,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

Digimarc Company Profile

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.