Insider Selling: Innodata (NASDAQ:INOD) Director Sells $550,100.00 in Stock

Innodata Inc. (NASDAQ:INOD) Director Louise Forlenza sold 10,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $55.01, for a total transaction of $550,100.00. Following the completion of the sale, the director owned 5,424 shares of the company’s stock, valued at approximately $298,374.24. The trade was a 64.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Innodata Stock Up 1.1%

Shares of Innodata stock traded up $0.62 on Friday, hitting $55.66. 699,700 shares of the company traded hands, compared to its average volume of 1,494,355. Innodata Inc. has a 12-month low of $34.23 and a 12-month high of $125.14. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.91 billion, a PE ratio of 42.17 and a beta of 2.88. The company has a 50-day moving average price of $63.41 and a 200 day moving average price of $63.61.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. Innodata had a return on equity of 37.79% and a net margin of 14.66%.The firm had revenue of $92.14 million during the quarter, compared to analysts’ expectations of $86.31 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 57.8% on a year-over-year basis. Sell-side analysts predict that Innodata Inc. will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INOD has been the subject of several recent research reports. BWS Financial reissued a “top pick” rating and issued a $140.00 price target on shares of Innodata in a research note on Friday, August 7th. Zacks Research cut shares of Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Finally, Wedbush increased their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INOD. Compass Financial Management LLC acquired a new stake in Innodata in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Innodata in the fourth quarter valued at approximately $26,000. Ancora Advisors LLC acquired a new stake in shares of Innodata in the second quarter worth $36,000. Farther Finance Advisors LLC raised its holdings in Innodata by 506.0% in the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after acquiring an additional 673 shares during the period. Finally, Fifth Third Bancorp bought a new stake in Innodata during the first quarter valued at about $45,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.