Digimarc (NASDAQ:DMRC) Shares Gap Up to $22.61

Digimarc Co. (NASDAQ:DMRC) shares gapped up before the market opened on Friday . The stock had previously closed at $22.61, but opened at $24.08. Digimarc shares last traded at $24.89, with a volume of 64,229 shares trading hands.

Analyst Ratings Changes

Separately, Craig Hallum decreased their target price on shares of Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research report on Friday.

Digimarc Stock Up 1.2 %

The stock has a market capitalization of $489.01 million, a P/E ratio of -9.92 and a beta of 1.18. The firm’s 50-day simple moving average is $27.33 and its 200 day simple moving average is $31.70.

Digimarc (NASDAQ:DMRC) last released its earnings results on Wednesday, February 28th. The information technology services provider reported ($0.41) earnings per share (EPS) for the quarter. Digimarc had a negative net margin of 131.87% and a negative return on equity of 50.45%. The business had revenue of $9.28 million during the quarter.

Insiders Place Their Bets

In other Digimarc news, EVP Tony Rodriguez sold 2,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $26.91, for a total transaction of $53,820.00. Following the transaction, the executive vice president now directly owns 41,259 shares of the company’s stock, valued at $1,110,279.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Milena Alberti-Perez sold 4,900 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $30.84, for a total value of $151,116.00. Following the transaction, the director now directly owns 14,487 shares in the company, valued at approximately $446,779.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tony Rodriguez sold 2,000 shares of the business’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 directly owns 41,259 shares of the company’s stock, valued at approximately $1,110,279.69. The disclosure for this sale can be found here. Insiders own 20.50% of the company’s stock.

Hedge Funds Weigh In On Digimarc

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Digimarc by 2.3% in the 3rd 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. Lagoda Investment Management L.P. raised its stake in Digimarc by 2.1% during the 3rd quarter. Lagoda Investment Management L.P. now owns 662,450 shares of the information technology services provider’s stock valued at $21,523,000 after purchasing an additional 13,330 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Digimarc by 1,834.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock valued at $19,793,000 after purchasing an additional 519,643 shares during the period. Silverberg Bernstein Capital Management LLC boosted its holdings in Digimarc by 0.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 433,053 shares of the information technology services provider’s stock valued at $11,770,000 after purchasing an additional 3,079 shares during the period. Finally, Private Advisor Group LLC grew its position in Digimarc by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 337,024 shares of the information technology services provider’s stock worth $9,160,000 after purchasing an additional 8,875 shares during the last quarter. 66.85% of the stock is currently owned by 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.