Digimarc (NASDAQ:DMRC) Price Target Lowered to $30.00 at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price target reduced by equities research analysts at Needham & Company LLC from $40.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 10.72% from the company’s previous close.

Digimarc Price Performance

NASDAQ:DMRC opened at $27.10 on Thursday. The company has a market cap of $580.40 million, a price-to-earnings ratio of -13.89 and a beta of 1.66. Digimarc has a 1 year low of $21.00 and a 1 year high of $48.32. The stock’s 50 day simple moving average is $37.51 and its two-hundred day simple moving average is $32.83.

Institutional Trading of Digimarc

Several hedge funds have recently made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new stake in Digimarc during the fourth quarter valued at approximately $105,000. Tower Research Capital LLC TRC increased its position in shares of Digimarc by 469.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock valued at $111,000 after purchasing an additional 2,433 shares during the last quarter. FMR LLC raised its holdings in Digimarc by 201.6% during the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 3,331 shares during the period. BNP Paribas Financial Markets lifted its position in Digimarc by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock worth $210,000 after buying an additional 1,724 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Digimarc during the fourth quarter worth $215,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

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.