Digimarc (NASDAQ:DMRC) Given New $30.00 Price Target at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price objective dropped by stock analysts at Needham & Company LLC from $40.00 to $30.00 in a note issued to investors 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 would indicate a potential upside of 10.72% from the company’s previous close.

Digimarc Stock Performance

DMRC opened at $27.10 on Thursday. Digimarc has a one year low of $21.00 and a one year high of $48.32. The stock has a market cap of $580.40 million, a price-to-earnings ratio of -13.89 and a beta of 1.66. The stock’s 50 day moving average price is $37.51 and its 200-day moving average price is $32.83.

Institutional Trading of Digimarc

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its position in Digimarc by 240.9% during the 3rd quarter. Barclays PLC now owns 25,172 shares of the information technology services provider’s stock valued at $677,000 after purchasing an additional 17,788 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of Digimarc in the fourth quarter valued at about $574,000. Woodson Capital Management LP lifted its stake in Digimarc by 18.5% in the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock worth $12,248,000 after acquiring an additional 71,126 shares during the period. FMR LLC grew its holdings in Digimarc by 201.6% during the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 3,331 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Digimarc by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,187 shares of the information technology services provider’s stock valued at $247,000 after purchasing an additional 2,695 shares during the period. 66.85% of the stock is currently 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.