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

Digimarc (NASDAQ:DMRC) had its target price lowered by Needham & Company LLC from $40.00 to $30.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 83.49% from the stock’s previous close.

Digimarc Price Performance

NASDAQ:DMRC opened at $16.35 on Thursday. Digimarc has a one year low of $14.25 and a one year high of $48.32. The firm’s 50 day simple moving average is $36.68 and its 200 day simple moving average is $32.62. The company has a market cap of $350.23 million, a PE ratio of -8.38 and a beta of 1.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Digimarc in the 4th quarter valued at about $105,000. Tower Research Capital LLC TRC lifted its stake in shares of Digimarc by 469.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock worth $111,000 after acquiring an additional 2,433 shares during the period. FMR LLC boosted its holdings in Digimarc by 201.6% in the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 3,331 shares during the last quarter. BNP Paribas Financial Markets increased its position in Digimarc by 28.4% during 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 position in Digimarc during the 4th quarter worth approximately $215,000. 66.85% of the stock is owned by institutional investors.

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.