Innodata (NASDAQ:INOD) CEO Jack Abuhoff Sells 94,059 Shares of Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 94,059 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $105.70, for a total value of $9,942,036.30. Following the transaction, the chief executive officer directly owned 1,340,456 shares in the company, valued at approximately $141,686,199.20. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 16th, Jack Abuhoff sold 200,000 shares of Innodata stock. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00.
• On Friday, May 29th, Jack Abuhoff sold 105,586 shares of Innodata stock. The shares were sold at an average price of $103.50, for a total value of $10,928,151.00.
• On Friday, May 22nd, Jack Abuhoff sold 38,056 shares of Innodata stock. The shares were 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 shares were 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 shares were 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 value of $7,358,799.78.
• On Tuesday, May 12th, Jack Abuhoff sold 71,699 shares of Innodata stock. The stock was sold at an average price of $95.60, for a total value of $6,854,424.40.
• On Wednesday, May 13th, Jack Abuhoff sold 94,460 shares of Innodata stock. The stock was sold at an average price of $91.19, for a total value of $8,613,807.40.

Innodata Trading Up 7.8%

Shares of INOD opened at $107.42 on Wednesday. Innodata Inc. has a 1 year low of $34.23 and a 1 year high of $125.14. 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 stock has a 50 day simple moving average of $74.46 and a 200-day simple moving average of $59.08. The stock has a market cap of $3.51 billion, a PE ratio of 96.77 and a beta of 2.83.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same period in the prior year, the firm posted $0.22 EPS. Innodata’s quarterly revenue was up 54.5% compared to the same quarter last year. On average, sell-side analysts predict that Innodata Inc. will post 1.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INOD shares. Wedbush raised their price target on Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Weiss Ratings upgraded Innodata from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, BWS Financial restated a “buy” rating on shares of Innodata in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rathbones Group PLC increased its stake in shares of Innodata by 20.8% in the 1st quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after buying an additional 24,837 shares during the period. NewEdge Advisors LLC increased its stake in shares of Innodata by 7.7% in the 1st quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock valued at $552,000 after buying an additional 1,023 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Innodata by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock valued at $283,000 after buying an additional 248 shares during the period. Bank of America Corp DE increased its stake in shares of Innodata by 156.3% in the 1st quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock valued at $3,950,000 after buying an additional 62,361 shares during the period. Finally, H&H International Investment LLC acquired a new stake in shares of Innodata in the 1st quarter valued at $386,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.