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

Digimarc Co. (NASDAQ:DMRC)’s share price gapped down prior to trading 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.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. 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, May 3rd. Needham & Company LLC raised shares of Digimarc from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Monday, June 24th.

Digimarc Stock Down 1.5 %

The stock has a market capitalization of $606.99 million, a price-to-earnings ratio of -13.86 and a beta of 1.73. The company has a 50 day simple moving average of $30.19 and a 200-day simple moving average of $29.82.

Insider Activity at Digimarc

In other Digimarc 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 value of $38,220.00. Following the completion of the sale, the director now directly owns 20,687 shares in the company, valued at $527,104.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kathleen Kool sold 3,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.02, for a total value of $72,060.00. Following the transaction, the director now directly owns 21,383 shares in the company, valued at approximately $513,619.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alicia Syrett sold 1,500 shares of the business’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 sale, the director now owns 20,687 shares of the company’s stock, valued at approximately $527,104.76. The disclosure for this sale can be found here. Insiders have sold 8,346 shares of company stock worth $201,582 in the last quarter. Company insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Digimarc

Several hedge funds and other institutional investors have recently made changes to their positions in DMRC. West Branch Capital LLC acquired a new position in Digimarc during the 2nd quarter valued at about $62,000. nVerses Capital LLC purchased a new position in shares of Digimarc during the second quarter valued at approximately $62,000. SG Americas Securities LLC bought a new stake in Digimarc during the fourth quarter worth $133,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Digimarc in the 2nd quarter valued at $148,000. Finally, McCollum Christoferson Group LLC bought a new position in Digimarc during the 2nd quarter valued at $211,000. 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.