Innodata Inc. (NASDAQ:INOD – Get Free Report) was down 7.7% on Tuesday after an insider sold shares in the company. The stock traded as low as $88.60 and last traded at $87.4060. Approximately 274,990 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,556,240 shares. The stock had previously closed at $94.72.
Specifically, CEO Jack Abuhoff sold 150,000 shares of Innodata stock in a transaction on Monday, May 18th. The stock was sold at an average price of $94.39, for a total value of $14,158,500.00. Following the completion of the sale, the chief executive officer owned 1,340,456 shares of the company’s stock, valued at $126,525,641.84. The trade was a 10.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Abuhoff sold 100,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $95.78, for a total value of $9,578,000.00. Following the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at $128,388,875.68. This trade represents a 6.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other Innodata news, Director Stewart R. Massey sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $96.00, for a total value of $960,000.00. Following the sale, the director directly owned 11,000 shares of the company’s stock, valued at approximately $1,056,000. This trade represents a 47.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Analyst Ratings Changes
INOD has been the subject of a number of research analyst reports. Wedbush upped their price objective on shares of Innodata from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. BWS Financial reissued a “top pick” rating and issued a $110.00 target price on shares of Innodata in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Innodata in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.
Innodata Price Performance
The company has a 50 day simple moving average of $49.46 and a 200 day simple moving average of $53.22. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 78.35 and a beta of 2.40. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07.
Innodata (NASDAQ:INOD – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business had revenue of $90.10 million for the quarter, compared to analyst estimates of $76.47 million. During the same period in the previous year, the company posted $0.22 EPS. The company’s revenue was up 54.5% compared to the same quarter last year. As a group, research analysts predict that Innodata Inc. will post 0.99 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of Innodata by 156.3% in the first quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock worth $3,950,000 after acquiring an additional 62,361 shares in the last quarter. H&H International Investment LLC acquired a new position in shares of Innodata during the 1st quarter valued at $386,000. Janus Henderson Group PLC boosted its position in Innodata by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after purchasing an additional 63,779 shares during the period. California State Teachers Retirement System increased its holdings in Innodata by 36.8% in the 1st quarter. California State Teachers Retirement System now owns 40,611 shares of the technology company’s stock valued at $1,568,000 after purchasing an additional 10,927 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Innodata by 16.7% in the 1st quarter. Royal Bank of Canada now owns 169,054 shares of the technology company’s stock valued at $6,528,000 after purchasing an additional 24,216 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.
Innodata Company Profile
Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata’s platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.
The firm’s offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.
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