Insider Selling: Innodata (NASDAQ:INOD) CEO Sells 150,000 Shares of Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 150,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $94.39, for a total value of $14,158,500.00. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $126,525,641.84. This represents a 10.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 stock was 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 Stock Performance

Shares of NASDAQ INOD traded down $1.38 during midday trading on Monday, reaching $94.72. 2,106,733 shares of the company were exchanged, compared to its average volume of 1,572,331. Innodata Inc. has a 1 year low of $33.77 and a 1 year high of $114.77. The stock has a fifty day simple moving average of $48.45 and a 200 day simple moving average of $53.09. The stock has a market cap of $3.09 billion, a P/E ratio of 85.33 and a beta of 2.40. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07.

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

Institutional Trading of Innodata

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Innodata in the 3rd quarter valued at $4,876,000. RFG Advisory LLC acquired a new stake in Innodata in the 4th quarter valued at $5,750,000. WINTON GROUP Ltd acquired a new stake in Innodata in the 3rd quarter valued at $1,834,000. Penserra Capital Management LLC acquired a new stake in Innodata in the 3rd quarter valued at $3,877,000. Finally, UBS Group AG increased its holdings in Innodata by 37.1% in the 4th quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock valued at $17,880,000 after purchasing an additional 95,002 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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