Needham & Company LLC Reiterates “Hold” Rating for Digimarc (NASDAQ:DMRC)

Needham & Company LLC reaffirmed their hold rating on shares of Digimarc (NASDAQ:DMRC) in a report released on Monday, Benzinga reports.

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

Digimarc Trading Up 2.3 %

Digimarc stock opened at $23.02 on Monday. Digimarc has a 1-year low of $19.87 and a 1-year high of $43.43. The company has a market cap of $492.01 million, a P/E ratio of -11.07 and a beta of 1.18. The company has a fifty day simple moving average of $25.80 and a 200 day simple moving average of $31.52.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, February 28th. The information technology services provider reported ($0.41) earnings per share for the quarter. The business had revenue of $9.28 million for the quarter. Digimarc had a negative return on equity of 48.42% and a negative net margin of 114.38%.

Insider Activity at Digimarc

In related news, Director Milena Alberti-Perez sold 4,900 shares of Digimarc stock in a transaction on Monday, March 11th. The shares were sold at an average price of $30.84, for a total transaction of $151,116.00. Following the completion of the transaction, the director now owns 14,487 shares of the company’s stock, valued at $446,779.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Milena Alberti-Perez sold 4,900 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $30.84, for a total value of $151,116.00. Following the completion of the transaction, the director now owns 14,487 shares in the company, valued at $446,779.08. The disclosure for this sale can be found here. Insiders sold a total of 8,400 shares of company stock worth $239,241 in the last quarter. 19.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DMRC. Silverberg Bernstein Capital Management LLC purchased a new stake in Digimarc in the 4th quarter valued at about $15,531,000. Swiss National Bank purchased a new position in Digimarc in the third quarter worth $1,017,000. Barclays PLC raised its holdings in shares of Digimarc by 79.0% during the 3rd quarter. Barclays PLC now owns 5,070 shares of the information technology services provider’s stock valued at $165,000 after buying an additional 2,238 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Digimarc in the 3rd quarter valued at $240,000. Finally, Vanguard Group Inc. grew its stake in shares of Digimarc by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,121,044 shares of the information technology services provider’s stock valued at $36,423,000 after buying an additional 25,679 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

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.