Insider Selling: Innodata (NASDAQ:INOD) CEO Sells $6,854,424.40 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 71,699 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $95.60, for a total transaction of $6,854,424.40. Following the sale, the chief executive officer owned 1,340,456 shares of the company’s stock, valued at $128,147,593.60. This trade represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jack Abuhoff also recently made the following trade(s):

• On Thursday, May 14th, Jack Abuhoff sold 76,991 shares of Innodata stock. The shares were sold at an average price of $95.58, for a total transaction of $7,358,799.78.
• On Wednesday, May 13th, Jack Abuhoff sold 94,460 shares of Innodata stock. The shares were sold at an average price of $91.19, for a total transaction of $8,613,807.40.

Innodata Stock Performance

INOD opened at $96.10 on Friday. The firm has a market cap of $3.14 billion, a P/E ratio of 86.58 and a beta of 2.40. Innodata Inc. has a 1-year low of $33.77 and a 1-year high of $114.77. The company has a 50 day simple moving average of $48.45 and a two-hundred day simple moving average of $53.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The business had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The company’s revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities analysts forecast that Innodata Inc. will post 0.99 earnings per share for the current fiscal year.

Key Innodata News

Here are the key news stories impacting Innodata this week:

• Positive Sentiment: Wedbush raised its price target on Innodata to $100 from $80 and reiterated an Outperform rating, reinforcing the bullish view after the company’s strong earnings beat. Article Title
• Positive Sentiment: Recent coverage continues to highlight Innodata’s first-quarter revenue growth of 54% and better-than-expected profit, supporting the stock’s momentum after earnings. Article Title
• Positive Sentiment: Some commentary says the company’s strong earnings may even be conservative, which keeps the growth narrative alive for AI/data-services investors. Article Title
• Negative Sentiment: CEO Jack Abuhoff sold large blocks of stock in multiple transactions, including a recent sale worth about $22.8 million, which may raise concerns that insiders are locking in gains after the sharp rally. Article Title
• Negative Sentiment: Other insider sales, including moves by Director Stewart Massey, Director Louise C. Forlenza, and COO Ashok Mishra, add to the perception that management may be taking profits after the stock’s big post-earnings run. Article Title
• Neutral Sentiment: The stock is also being discussed as a momentum/AI beneficiary, but with a rich valuation, some investors are weighing whether gains can continue without another strong catalyst. Article Title

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of INOD. AQR Capital Management LLC boosted its position in shares of Innodata by 446.4% during the first quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock worth $3,266,000 after acquiring an additional 74,320 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock worth $577,000 after acquiring an additional 711 shares during the last quarter. Millennium Management LLC boosted its position in shares of Innodata by 30.7% during the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock worth $5,120,000 after acquiring an additional 33,473 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Innodata by 16.0% during the second quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock worth $1,044,000 after acquiring an additional 2,816 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Innodata by 1,527.3% during the second quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock worth $483,000 after acquiring an additional 8,843 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

Analyst Ratings Changes

INOD has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innodata in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. BWS Financial reiterated a “top pick” rating and issued a $110.00 price target on shares of Innodata in a research report on Friday, April 10th. Finally, Wedbush upped their price target on shares of Innodata from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

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.