Insider Selling: Innodata (NASDAQ:INOD) Director Sells 10,000 Shares of Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart Massey sold 10,000 shares of Innodata stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $96.00, for a total transaction of $960,000.00. Following the completion of the sale, the director owned 11,000 shares of the company’s stock, valued at $1,056,000. This trade represents a 47.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Innodata Stock Performance

Innodata stock traded down $1.38 during midday trading on Monday, hitting $94.72. The company’s stock had a trading volume of 2,105,678 shares, compared to its average volume of 1,572,309. Innodata Inc. has a 1-year low of $33.77 and a 1-year high of $114.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49. The company has a 50-day moving average price of $48.45 and a two-hundred day moving average price of $53.09. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 85.33 and a beta of 2.40.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s revenue was up 54.5% on a year-over-year basis. As a group, sell-side analysts predict that Innodata Inc. will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On Innodata

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Innodata during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC increased its position in Innodata by 506.0% during the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after purchasing an additional 673 shares in the last quarter. Fifth Third Bancorp acquired a new position in Innodata during the 1st quarter worth approximately $45,000. IFP Advisors Inc increased its position 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 purchasing an additional 627 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Innodata during the 4th quarter worth approximately $51,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INOD. BWS Financial restated a “top pick” rating and issued a $110.00 target price on shares of Innodata in a research report on Friday, April 10th. Wedbush boosted their target price on shares of Innodata from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Innodata in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Innodata currently has an average 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.