Insider Selling: Innodata Inc. (NASDAQ:INOD) CEO Sells 225,000 Shares of Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Innodata Price Performance

Shares of Innodata stock opened at $44.77 on Friday. The firm has a fifty day moving average price of $23.23 and a two-hundred day moving average price of $18.21. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.30 billion, a PE ratio of 75.88 and a beta of 2.30.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum assumed coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, BWS Financial increased their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.67.

Institutional Investors Weigh In On Innodata

A number of institutional investors have recently added to or reduced their stakes in INOD. nVerses Capital LLC acquired a new position in Innodata in the 2nd quarter valued at approximately $27,000. Point72 Asset Management L.P. bought a new stake in shares of Innodata during the third quarter valued at approximately $206,000. BNP Paribas Financial Markets raised its stake in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new position in Innodata in the first quarter worth $94,000. Finally, Private Advisor Group LLC boosted its stake in Innodata by 17.4% during the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after buying an additional 2,207 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.