Innodata Inc. (NASDAQ:INOD) CFO Sells $1,952,700.00 in Stock

Innodata Inc. (NASDAQ:INOD) CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Innodata Stock Down 18.0 %

Shares of Innodata stock traded down $11.55 during midday trading on Thursday, hitting $52.62. The company had a trading volume of 3,678,198 shares, compared to its average volume of 2,143,929. The company has a 50 day moving average of $43.04 and a 200 day moving average of $31.14. The stock has a market capitalization of $1.53 billion, a P/E ratio of 61.91 and a beta of 2.57. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data 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. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million for the quarter, compared to the consensus estimate of $53.01 million. On average, equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INOD shares. Maxim Group upped their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. BWS Financial raised their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Institutional Trading of Innodata

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company’s stock worth $64,802,000 after purchasing an additional 117,000 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after buying an additional 892,663 shares during the period. Geode Capital Management LLC increased its holdings in Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. State Street Corp increased its holdings in Innodata by 1.8% during the third quarter. State Street Corp now owns 537,301 shares of the technology company’s stock valued at $9,011,000 after buying an additional 9,408 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Innodata in the fourth quarter worth approximately $16,713,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

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.