Insider Selling: Innodata (NASDAQ:INOD) CEO Sells $3,820,441.84 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 38,056 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.39, for a total transaction of $3,820,441.84. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $134,568,377.84. The trade was a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, May 20th, Jack Abuhoff sold 150,000 shares of Innodata stock. The stock was sold at an average price of $93.46, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 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 value of $8,613,807.40.

Innodata Price Performance

INOD stock traded up $0.43 during midday trading on Tuesday, reaching $95.91. 1,473,873 shares of the stock were exchanged, compared to its average volume of 1,580,925. The company has a fifty day moving average price of $54.46 and a 200 day moving average price of $53.96. The stock has a market capitalization of $3.13 billion, a PE ratio of 86.41 and a beta of 2.40. Innodata Inc. has a 52 week low of $34.23 and a 52 week 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.

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. The company had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. Innodata’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, analysts expect that Innodata Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wedbush raised their price objective on Innodata from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. BWS Financial restated a “top pick” rating and set a $110.00 price target on shares of Innodata in a report on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Hedge Funds Weigh In On Innodata

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Innodata by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after purchasing an additional 711 shares during the period. Millennium Management LLC grew its stake in Innodata by 30.7% in the 1st quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after purchasing an additional 33,473 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Innodata by 16.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 2,816 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Innodata by 1,527.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock worth $483,000 after purchasing an additional 8,843 shares during the period. 30.75% of the stock is owned by institutional investors.

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.