Principal Financial Group Inc. cut its holdings in shares of Innodata Inc. (NASDAQ:INOD – Free Report) by 29.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,644 shares of the technology company’s stock after selling 40,419 shares during the period. Principal Financial Group Inc.’s holdings in Innodata were worth $3,655,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of INOD. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Innodata by 64.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 24,273 shares of the technology company’s stock worth $937,000 after purchasing an additional 9,483 shares during the period. Fifth Third Bancorp acquired a new position in Innodata during the 1st quarter worth about $45,000. Quantum Portfolio Management LLC grew its position in shares of Innodata by 7.6% in the 1st quarter. Quantum Portfolio Management LLC now owns 7,192 shares of the technology company’s stock valued at $278,000 after buying an additional 505 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Innodata by 51.1% in the first quarter. Private Advisor Group LLC now owns 7,268 shares of the technology company’s stock valued at $281,000 after buying an additional 2,459 shares during the period. Finally, Leonteq Securities AG increased its stake in shares of Innodata by 462.0% in the first quarter. Leonteq Securities AG now owns 5,620 shares of the technology company’s stock valued at $217,000 after buying an additional 4,620 shares during the period. Institutional investors own 30.75% of the company’s stock.
Insider Activity at Innodata
In related news, CFO Marissa B. Espineli sold 19,667 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $105.88, for a total transaction of $2,082,341.96. Following the transaction, the chief financial officer owned 28,014 shares in the company, valued at $2,966,122.32. The trade was a 41.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ashok Mishra sold 38,666 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the transaction, the chief operating officer directly owned 83,179 shares in the company, valued at approximately $9,510,686.86. This represents a 31.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,472,885 shares of company stock worth $143,998,492. 11.80% of the stock is owned by insiders.
Innodata Trading Down 3.8%
Innodata (NASDAQ:INOD – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.34. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The company’s revenue was up 54.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. Research analysts expect that Innodata Inc. will post 1.14 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently commented on INOD. Weiss Ratings raised Innodata from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Innodata from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wedbush upped their price objective on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, BWS Financial reiterated a “buy” rating on shares of Innodata in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, Innodata presently has a consensus rating of “Strong Buy” and an average price target of $130.00.
View Our Latest Analysis on Innodata
About Innodata
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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