State Street Corp cut its stake in Digimarc Co. (NASDAQ:DMRC - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 378,379 shares of the information technology services provider's stock after selling 13,963 shares during the quarter. State Street Corp owned 1.77% of Digimarc worth $10,171,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Digimarc in the 2nd quarter worth about $62,000. SG Americas Securities LLC purchased a new stake in shares of Digimarc during the third quarter valued at approximately $106,000. FMR LLC increased its position in shares of Digimarc by 201.6% during 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. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Digimarc during the second quarter worth $148,000. Finally, BNP Paribas Financial Markets boosted its position in Digimarc by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider's stock worth $210,000 after purchasing an additional 1,724 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on DMRC shares. StockNews.com upgraded shares of Digimarc to a "sell" rating in a research note on Tuesday, September 17th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 target price on shares of Digimarc in a research report on Friday, November 15th.
Check Out Our Latest Research Report on Digimarc
Digimarc Price Performance
DMRC stock traded down $0.77 during midday trading on Friday, reaching $38.00. The company had a trading volume of 103,110 shares, compared to its average volume of 124,240. The firm has a 50-day moving average price of $33.73 and a 200-day moving average price of $30.74. The company has a market capitalization of $814.00 million, a P/E ratio of -19.49 and a beta of 1.70. Digimarc Co. has a 1 year low of $21.00 and a 1 year high of $43.43.
Digimarc Profile
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Free Report)
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.
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