BidaskClub lowered shares of Digimarc Corporation (NASDAQ:DMRC) from a hold rating to a sell rating in a report released on Tuesday morning.

Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $42.00 target price on shares of Digimarc Corporation in a report on Monday, July 10th. Cowen and Company set a $50.00 target price on Digimarc Corporation and gave the stock a buy rating in a report on Monday, July 10th. B. Riley reaffirmed a buy rating and set a $44.00 target price on shares of Digimarc Corporation in a report on Sunday, April 30th. ValuEngine raised Digimarc Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised Digimarc Corporation from a sell rating to a hold rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $45.75.

Digimarc Corporation (NASDAQ DMRC) traded up 1.31% during midday trading on Tuesday, hitting $30.90. 130,661 shares of the company traded hands. The stock has a 50 day moving average of $34.80 and a 200 day moving average of $29.69. The stock’s market cap is $317.19 million. Digimarc Corporation has a 12-month low of $24.20 and a 12-month high of $41.75.

Digimarc Corporation (NASDAQ:DMRC) last released its earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.68). The firm had revenue of $5.59 million for the quarter, compared to analyst estimates of $5.69 million. Digimarc Corporation had a negative return on equity of 32.95% and a negative net margin of 107.49%. Digimarc Corporation’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.62) earnings per share. Equities research analysts predict that Digimarc Corporation will post ($2.68) EPS for the current fiscal year.

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In related news, CFO Charles Beck sold 1,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $40.33, for a total value of $40,330.00. Following the completion of the transaction, the chief financial officer now owns 39,075 shares in the company, valued at approximately $1,575,894.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce L. Davis sold 700 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $38.17, for a total value of $26,719.00. Following the completion of the transaction, the chief executive officer now owns 57,144 shares of the company’s stock, valued at approximately $2,181,186.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,000 shares of company stock worth $601,820. 7.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its position in Digimarc Corporation by 30.3% in the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock worth $12,420,000 after buying an additional 107,000 shares during the period. Formula Growth Ltd. raised its position in Digimarc Corporation by 70.0% in the first quarter. Formula Growth Ltd. now owns 210,417 shares of the information technology services provider’s stock worth $5,681,000 after buying an additional 86,607 shares during the period. Blair William & Co. IL bought a new position in Digimarc Corporation during the first quarter worth $1,926,000. Essex Investment Management Co. LLC bought a new position in Digimarc Corporation during the second quarter worth $2,757,000. Finally, Vanguard Group Inc. raised its position in Digimarc Corporation by 9.8% in the first quarter. Vanguard Group Inc. now owns 433,039 shares of the information technology services provider’s stock worth $11,692,000 after buying an additional 38,804 shares during the period. Institutional investors and hedge funds own 54.54% of the company’s stock.

About Digimarc Corporation

Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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