Louise Forlenza Sells 8,278 Shares of Innodata (NASDAQ:INOD) Stock

Innodata Inc. (NASDAQ:INOD) Director Louise Forlenza sold 8,278 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total value of $538,070.00. Following the sale, the director owned 3,943 shares in the company, valued at approximately $256,295. The trade was a 67.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Innodata Stock Down 8.3%

NASDAQ INOD opened at $56.80 on Friday. The stock has a market cap of $1.81 billion, a PE ratio of 45.81 and a beta of 2.90. The business has a 50 day moving average price of $72.19 and a two-hundred day moving average price of $53.21. Innodata Inc. has a fifty-two week low of $26.41 and a fifty-two week high of $93.85. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $62.55 million for the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. Innodata’s revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Innodata by 177.8% in the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company’s stock valued at $28,470,000 after acquiring an additional 507,540 shares during the last quarter. Jump Financial LLC boosted its holdings in Innodata by 1,058.5% in the second quarter. Jump Financial LLC now owns 391,200 shares of the technology company’s stock worth $20,037,000 after purchasing an additional 357,433 shares during the period. Nuveen LLC bought a new stake in Innodata during the first quarter valued at $12,310,000. HRT Financial LP increased its stake in Innodata by 746.1% during the second quarter. HRT Financial LP now owns 218,635 shares of the technology company’s stock valued at $11,198,000 after purchasing an additional 192,794 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Innodata during the second quarter worth $7,825,000. 30.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INOD has been the subject of several recent analyst reports. Weiss Ratings upgraded Innodata from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research upgraded Innodata from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. BWS Financial restated a “buy” rating and set a $110.00 price objective on shares of Innodata in a report on Tuesday. Finally, Wedbush upped their target price on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.00.

Innodata Company 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.