Digimarc (NASDAQ:DMRC) Shares Gap Down to $29.91

Digimarc Co. (NASDAQ:DMRC) gapped down before the market opened on Monday . The stock had previously closed at $29.91, but opened at $25.74. Digimarc shares last traded at $28.59, with a volume of 10,003 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DMRC. Needham & Company LLC raised shares of Digimarc from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, June 24th. Craig Hallum reduced their price objective on Digimarc from $35.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, May 3rd.

Digimarc Price Performance

The company has a fifty day moving average of $30.19 and a 200-day moving average of $29.82. The firm has a market capitalization of $606.99 million, a PE ratio of -13.86 and a beta of 1.73.

Insider Transactions at Digimarc

In other news, Director Kathleen Kool sold 3,000 shares of Digimarc stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the completion of the sale, the director now directly owns 21,383 shares in the company, valued at approximately $513,619.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Alicia Syrett sold 1,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $25.48, for a total transaction of $38,220.00. Following the transaction, the director now owns 20,687 shares in the company, valued at approximately $527,104.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Kool sold 3,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the completion of the sale, the director now owns 21,383 shares of the company’s stock, valued at $513,619.66. The disclosure for this sale can be found here. Insiders sold 8,346 shares of company stock valued at $201,582 in the last three months. Corporate insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Digimarc

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in shares of Digimarc by 1,834.7% in the fourth 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. Vanguard Group Inc. lifted its position in Digimarc by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,121,044 shares of the information technology services provider’s stock worth $36,423,000 after acquiring an additional 25,679 shares during the last quarter. SG Americas Securities LLC bought a new stake in Digimarc during the fourth quarter valued at about $133,000. Janney Montgomery Scott LLC increased its stake in shares of Digimarc by 9.4% in the first quarter. Janney Montgomery Scott LLC now owns 63,728 shares of the information technology services provider’s stock worth $1,732,000 after purchasing an additional 5,483 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Digimarc by 1.7% in the fourth quarter. Private Advisor Group LLC now owns 328,149 shares of the information technology services provider’s stock worth $11,853,000 after purchasing an additional 5,618 shares during the period. 66.85% of the stock is currently owned by institutional investors and hedge funds.

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.