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

Digimarc (NASDAQ:DMRC) had its target price decreased by Needham & Company LLC from $40.00 to $30.00 in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the information technology services provider’s stock.

Digimarc Stock Up 6.2 %

Shares of NASDAQ DMRC opened at $16.35 on Thursday. The firm’s 50-day moving average price is $36.68 and its 200-day moving average price is $32.65. Digimarc has a 52-week low of $14.25 and a 52-week high of $48.32. The company has a market cap of $350.23 million, a PE ratio of -8.38 and a beta of 1.66.

Hedge Funds Weigh In On Digimarc

Several institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Digimarc by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,687 shares of the information technology services provider’s stock worth $325,000 after purchasing an additional 380 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Digimarc by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,846 shares of the information technology services provider’s stock worth $669,000 after purchasing an additional 606 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Digimarc by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 228,780 shares of the information technology services provider’s stock worth $8,568,000 after purchasing an additional 703 shares during the period. Curi RMB Capital LLC lifted its stake in shares of Digimarc by 0.7% in the 3rd quarter. Curi RMB Capital LLC now owns 117,821 shares of the information technology services provider’s stock worth $3,167,000 after purchasing an additional 843 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Digimarc by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 355,673 shares of the information technology services provider’s stock worth $13,323,000 after purchasing an additional 935 shares during the period. Institutional investors 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.