Digimarc (NASDAQ:DMRC) Receives "Hold" Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Digimarc (NASDAQ:DMRC - Free Report) in a research report sent to investors on Monday morning, Benzinga reports.

Separately, Craig Hallum cut their price target on shares of Digimarc from $35.00 to $28.00 and set a hold rating on the stock in a report on Friday.

Digimarc Price Performance

Shares of DMRC traded up $0.11 during midday trading on Monday, hitting $22.99. The stock had a trading volume of 231,792 shares, compared to its average volume of 133,351. Digimarc has a 1 year low of $19.20 and a 1 year high of $43.43. The stock's 50 day moving average is $27.07 and its 200 day moving average is $31.70. The firm has a market cap of $491.30 million, a PE ratio of -11.00 and a beta of 1.18.

Digimarc (NASDAQ:DMRC - Get Free Report) last released its earnings results on Wednesday, February 28th. 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 48.42%. The business had revenue of $9.28 million for the quarter.

Insiders Place Their Bets

In other news, EVP Tony Rodriguez sold 2,000 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $26.91, for a total transaction of $53,820.00. Following the transaction, the executive vice president now owns 41,259 shares in the company, valued at $1,110,279.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Tony Rodriguez sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $26.91, for a total value of $53,820.00. Following the completion of the transaction, the executive vice president now owns 41,259 shares of the company's stock, valued at $1,110,279.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Milena Alberti-Perez sold 4,900 shares of the company's 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 sale, the director now owns 14,487 shares of the company's stock, valued at approximately $446,779.08. The disclosure for this sale can be found here. 19.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Digimarc

Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in 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 worth $102,000 after purchasing an additional 443 shares during the last quarter. SG Americas Securities LLC purchased a new position in Digimarc in the fourth quarter worth approximately $133,000. Barclays PLC lifted its holdings in shares of Digimarc by 79.0% in the 3rd quarter. Barclays PLC now owns 5,070 shares of the information technology services provider's stock worth $165,000 after acquiring an additional 2,238 shares during the last quarter. McCollum Christoferson Group LLC acquired a new stake in shares of Digimarc in the third quarter valued at $231,000. Finally, Kestra Advisory Services LLC acquired a new position in Digimarc in the 3rd quarter valued at about $240,000. Institutional investors and hedge funds 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.