Innodata (NASDAQ:INOD) CEO Sells $10,928,151.00 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 105,586 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $103.50, for a total value of $10,928,151.00. Following the completion of the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at $138,737,196. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, May 22nd, Jack Abuhoff sold 38,056 shares of Innodata stock. The stock was sold at an average price of $100.39, for a total value of $3,820,441.84.
• On Wednesday, May 20th, Jack Abuhoff sold 150,000 shares of Innodata stock. The shares were sold at an average price of $93.46, for a total value of $14,019,000.00.
• On Tuesday, May 19th, Jack Abuhoff sold 2,800 shares of Innodata stock. The shares were sold at an average price of $93.03, for a total value of $260,484.00.
• On Monday, May 18th, Jack Abuhoff sold 150,000 shares of Innodata stock. The stock was sold at an average price of $94.39, for a total value of $14,158,500.00.
• On Friday, May 15th, Jack Abuhoff sold 100,000 shares of Innodata stock. The stock was sold at an average price of $95.78, for a total value of $9,578,000.00.
• 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 Tuesday, May 12th, Jack Abuhoff sold 71,699 shares of Innodata stock. The shares were sold at an average price of $95.60, for a total transaction of $6,854,424.40.
• 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 Trading Up 9.8%

Shares of NASDAQ:INOD traded up $10.34 during trading on Monday, hitting $115.32. 2,881,489 shares of the company’s stock were exchanged, compared to its average volume of 1,604,508. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.77 billion, a P/E ratio of 103.89 and a beta of 2.82. The firm has a 50-day moving average price of $58.72 and a two-hundred day moving average price of $54.88. Innodata Inc. has a 1-year low of $34.23 and a 1-year high of $117.19.

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

Institutional Investors Weigh In On Innodata

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Innodata during the fourth quarter worth about $26,000. Farther Finance Advisors LLC grew its position in shares of Innodata by 506.0% in the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock valued at $41,000 after purchasing an additional 673 shares during the period. Fifth Third Bancorp bought a new stake in Innodata during the 1st quarter worth approximately $45,000. IFP Advisors Inc raised its holdings in Innodata by 1,567.5% during the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after buying an additional 627 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Innodata during the 4th quarter worth approximately $51,000. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INOD. Weiss Ratings cut Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. BWS Financial reaffirmed a “top pick” rating and issued a $110.00 price target on shares of Innodata in a research note on Friday, April 10th. Finally, Wedbush increased their price target on shares of Innodata from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Innodata has a consensus rating of “Moderate Buy” and an average target price of $105.00.

Innodata Company Profile

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.