Inovalon Holdings, Inc. (NASDAQ:INOV) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its position in Inovalon Holdings, Inc. (NASDAQ:INOV) by 62,891.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,559 shares of the technology company’s stock after acquiring an additional 7,547 shares during the quarter. Arkadios Wealth Advisors’ holdings in Inovalon were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Inovalon by 5.2% in the 4th quarter. BlackRock Inc. now owns 6,388,696 shares of the technology company’s stock valued at $116,084,000 after purchasing an additional 313,443 shares during the period. Black Creek Investment Management Inc. raised its position in Inovalon by 30.8% during the fourth quarter. Black Creek Investment Management Inc. now owns 3,842,578 shares of the technology company’s stock worth $69,820,000 after acquiring an additional 905,803 shares during the period. Riverbridge Partners LLC raised its position in Inovalon by 12.0% during the fourth quarter. Riverbridge Partners LLC now owns 1,638,909 shares of the technology company’s stock worth $29,779,000 after acquiring an additional 175,499 shares during the period. Cowen Prime Services LLC raised its position in Inovalon by 21.7% during the fourth quarter. Cowen Prime Services LLC now owns 650,300 shares of the technology company’s stock worth $11,816,000 after acquiring an additional 115,750 shares during the period. Finally, Morgan Stanley raised its position in Inovalon by 708.3% during the fourth quarter. Morgan Stanley now owns 642,441 shares of the technology company’s stock worth $11,673,000 after acquiring an additional 562,965 shares during the period. Hedge funds and other institutional investors own 33.64% of the company’s stock.

Inovalon stock opened at $30.40 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.33. Inovalon Holdings, Inc. has a 52-week low of $15.15 and a 52-week high of $31.12. The company has a fifty day simple moving average of $28.94 and a 200-day simple moving average of $24.13. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 760.19, a PEG ratio of 2.19 and a beta of 0.64.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, April 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Inovalon had a net margin of 0.87% and a return on equity of 9.07%. The firm had revenue of $177.18 million during the quarter, compared to analyst estimates of $174.09 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Inovalon’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts anticipate that Inovalon Holdings, Inc. will post 0.45 EPS for the current fiscal year.

INOV has been the subject of a number of research analyst reports. BTIG Research upped their price objective on shares of Inovalon from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 12th. Morgan Stanley upped their price objective on shares of Inovalon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 4th. SVB Leerink upped their price objective on shares of Inovalon from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. TheStreet upgraded shares of Inovalon from a “c” rating to a “b-” rating in a research report on Thursday, February 4th. Finally, KeyCorp upped their target price on shares of Inovalon from $29.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $28.50.

In related news, insider Jason Capitel sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $28.88, for a total value of $577,600.00. Also, Director Mark Pulido sold 100,000 shares of the stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $26.39, for a total transaction of $2,639,000.00. Following the transaction, the director now directly owns 254,760 shares of the company’s stock, valued at approximately $6,723,116.40. The disclosure for this sale can be found here. Corporate insiders own 49.59% of the company’s stock.

About Inovalon

Inovalon Holdings, Inc provides cloud-based platforms for data-driven healthcare. It operates Inovalon ONE Platform, an integrated, real-time cloud native platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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