Harvest Fund Management Co. Ltd Invests $569,000 in Innodata Inc. (NASDAQ:INOD)

Harvest Fund Management Co. Ltd bought a new position in Innodata Inc. (NASDAQ:INOD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,586 shares of the technology company’s stock, valued at approximately $569,000. Harvest Fund Management Co. Ltd owned approximately 0.05% of Innodata at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after acquiring an additional 13,609 shares in the last quarter. State Street Corp boosted its holdings in shares of Innodata by 1.8% in the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after acquiring an additional 9,408 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Innodata by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 1,843 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Innodata by 30.7% in the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company’s stock worth $2,854,000 after acquiring an additional 16,961 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in shares of Innodata in the 4th quarter worth approximately $2,328,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Stock Performance

INOD stock opened at $42.99 on Friday. The business’s fifty day moving average is $44.73 and its 200-day moving average is $34.27. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.35 billion, a P/E ratio of 50.58 and a beta of 2.59. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $71.00.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.20. The company had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Equities research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Insider Activity

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock valued at $17,790,794 in the last 90 days. 15.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

INOD has been the topic of several research reports. Maxim Group upped their price objective on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BWS Financial upped their price objective on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Chardan Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Finally, Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Innodata Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.