Digimarc (NASDAQ:DMRC) Rating Increased to Buy 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 note issued on Monday, Briefing.com reports. The brokerage currently has a $40.00 price target on the information technology services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 52.44% from the stock’s previous close.

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

Digimarc Trading Up 3.8 %

NASDAQ:DMRC opened at $26.24 on Monday. The firm has a market cap of $560.75 million, a PE ratio of -12.62 and a beta of 1.62. The stock has a fifty day moving average price of $25.09 and a 200 day moving average price of $30.70. Digimarc has a 12-month low of $21.00 and a 12-month high of $43.43.

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

Insider Transactions at Digimarc

In related news, Director Alicia Syrett sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $25.48, for a total value of $38,220.00. Following the transaction, the director now owns 20,687 shares in the company, valued at approximately $527,104.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Alicia Syrett sold 1,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $25.48, for a total value of $38,220.00. Following the transaction, the director now owns 20,687 shares in the company, valued at approximately $527,104.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Kool sold 3,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the completion of the transaction, the director now owns 21,383 shares in the company, valued at approximately $513,619.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,846 shares of company stock worth $289,707. Corporate insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Digimarc

A number of institutional investors have recently added to or reduced their stakes in the business. Bryant Woods Investment Advisors LLC boosted its holdings in Digimarc by 0.6% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 70,548 shares of the information technology services provider’s stock valued at $2,548,000 after purchasing an additional 391 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Digimarc by 18.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,824 shares of the information technology services provider’s stock valued at $102,000 after purchasing an additional 443 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Digimarc by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock valued at $413,000 after purchasing an additional 495 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Digimarc by 10.4% in the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock valued at $347,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Digimarc by 79.0% in the 3rd quarter. Barclays PLC now owns 5,070 shares of the information technology services provider’s stock valued at $165,000 after purchasing an additional 2,238 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

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.