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

Digimarc (NASDAQ:DMRC) had its price objective cut by investment 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 target price points to a potential upside of 83.49% from the stock’s current price.

Digimarc Stock Up 6.2 %

Shares of NASDAQ DMRC opened at $16.35 on Thursday. The firm has a market cap of $350.23 million, a PE ratio of -8.38 and a beta of 1.66. The company’s fifty day simple moving average is $36.68 and its 200 day simple moving average is $32.62. Digimarc has a 12-month low of $14.25 and a 12-month high of $48.32.

Institutional Trading of Digimarc

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