Digimarc (NASDAQ:DMRC) Shares Gap Up to $22.61

Digimarc Co. (NASDAQ:DMRC) gapped up before the market opened on Friday . The stock had previously closed at $22.61, but opened at $24.08. Digimarc shares last traded at $24.89, with a volume of 64,229 shares traded.

Analyst Ratings Changes

Separately, Craig Hallum reduced their price target on shares of Digimarc from $35.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday.

Digimarc Stock Performance

The company’s 50-day moving average is $27.07 and its 200-day moving average is $31.65. The firm has a market cap of $488.95 million, a price-to-earnings ratio of -11.00 and a beta of 1.18.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Wednesday, February 28th. The information technology services provider reported ($0.41) earnings per share (EPS) for the quarter. The company had revenue of $9.28 million for the quarter. Digimarc had a negative return on equity of 48.42% and a negative net margin of 114.38%.

Insider Buying and Selling

In other Digimarc news, EVP Tony Rodriguez sold 2,000 shares of Digimarc stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $26.91, for a total transaction of $53,820.00. Following the completion of the sale, the executive vice president now owns 41,259 shares of the company’s stock, valued at approximately $1,110,279.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Digimarc news, EVP Tony Rodriguez sold 2,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $26.91, for a total transaction of $53,820.00. Following the transaction, the executive vice president now owns 41,259 shares in the company, valued at $1,110,279.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Milena Alberti-Perez sold 4,900 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $30.84, for a total value of $151,116.00. Following the transaction, the director now owns 14,487 shares of the company’s stock, valued at $446,779.08. The disclosure for this sale can be found here. 20.50% of the stock is currently owned by insiders.

Institutional Trading of Digimarc

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in shares of Digimarc by 9.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,728 shares of the information technology services provider’s stock valued at $1,732,000 after acquiring an additional 5,483 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Digimarc by 10.4% in the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock valued at $347,000 after acquiring an additional 1,207 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Digimarc by 2.7% in the 1st quarter. Private Advisor Group LLC now owns 337,024 shares of the information technology services provider’s stock valued at $9,160,000 after acquiring an additional 8,875 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its stake in shares of Digimarc by 0.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 433,053 shares of the information technology services provider’s stock valued at $11,770,000 after acquiring an additional 3,079 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Digimarc by 1,834.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock valued at $19,793,000 after acquiring an additional 519,643 shares during the last quarter. 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.