Geode Capital Management LLC Buys 6,675 Shares of Digimarc Corporation (DMRC)
Geode Capital Management LLC increased its stake in shares of Digimarc Corporation (NASDAQ:DMRC) by 8.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 82,410 shares of the information technology services provider’s stock after buying an additional 6,675 shares during the period. Geode Capital Management LLC owned approximately 0.81% of Digimarc Corporation worth $2,225,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA boosted its position in shares of Digimarc Corporation by 30.3% in the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock valued at $12,420,000 after buying an additional 107,000 shares during the period. Formula Growth Ltd. raised its stake in Digimarc Corporation by 70.0% in the first quarter. Formula Growth Ltd. now owns 210,417 shares of the information technology services provider’s stock valued at $5,681,000 after buying an additional 86,607 shares in the last quarter. Blair William & Co. IL acquired a new stake in Digimarc Corporation during the first quarter valued at about $1,926,000. Vanguard Group Inc. raised its stake in Digimarc Corporation by 9.8% in the first quarter. Vanguard Group Inc. now owns 433,039 shares of the information technology services provider’s stock valued at $11,692,000 after buying an additional 38,804 shares in the last quarter. Finally, State Street Corp raised its stake in Digimarc Corporation by 10.7% in the fourth quarter. State Street Corp now owns 143,696 shares of the information technology services provider’s stock valued at $4,311,000 after buying an additional 13,930 shares in the last quarter. 54.39% of the stock is owned by hedge funds and other institutional investors.
Digimarc Corporation (NASDAQ:DMRC) traded down 0.18% during mid-day trading on Friday, reaching $28.35. The company’s stock had a trading volume of 39,275 shares. The firm has a 50 day moving average price of $30.06 and a 200 day moving average price of $30.05. The company’s market cap is $305.33 million. Digimarc Corporation has a 52-week low of $24.20 and a 52-week high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last issued its earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.68). Digimarc Corporation had a negative net margin of 107.49% and a negative return on equity of 32.18%. The company had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.69 million. During the same quarter last year, the company posted ($0.62) earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Digimarc Corporation will post ($2.69) earnings per share for the current year.
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Several analysts have issued reports on DMRC shares. B. Riley restated a “buy” rating and issued a $44.00 price objective on shares of Digimarc Corporation in a research note on Sunday, April 30th. ValuEngine upgraded Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Needham & Company LLC upped their price objective on Digimarc Corporation from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Cowen and Company upped their price objective on Digimarc Corporation from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, June 27th. Finally, Craig Hallum lowered Digimarc Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $45.75.
In related news, CFO Charles Beck sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $40.33, for a total value of $40,330.00. Following the sale, the chief financial officer now owns 39,075 shares in the company, valued at $1,575,894.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tony Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $35.30, for a total transaction of $70,600.00. Following the completion of the sale, the insider now owns 31,887 shares in the company, valued at approximately $1,125,611.10. The disclosure for this sale can be found here. Insiders sold 10,000 shares of company stock worth $379,430 in the last 90 days. 7.50% of the stock is currently owned by corporate insiders.
Digimarc Corporation Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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