Innodata (NASDAQ:INOD) CEO Sells $260,484.00 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 2,800 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $93.03, for a total value of $260,484.00. Following the completion of the sale, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $124,702,621.68. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, May 20th, Jack Abuhoff sold 150,000 shares of Innodata stock. The shares were sold at an average price of $93.46, for a total value of $14,019,000.00.
• 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 value of $14,158,500.00.
• On Friday, May 15th, Jack Abuhoff sold 100,000 shares of Innodata stock. The shares were 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 shares were 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 shares were 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 shares were 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 up $6.52 during midday trading on Wednesday, reaching $94.71. 1,921,092 shares of the company traded hands, compared to its average volume of 2,992,375. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. Innodata Inc. has a 12 month low of $33.77 and a 12 month high of $114.77. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 85.32 and a beta of 2.40. The firm’s fifty day moving average price is $51.30 and its two-hundred day moving average price is $53.43.

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

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Innodata by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company’s stock worth $141,847,000 after purchasing an additional 15,036 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Innodata by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 752,795 shares of the technology company’s stock worth $38,362,000 after purchasing an additional 2,407 shares in the last quarter. State Street Corp boosted its holdings in shares of Innodata by 2.8% in the 4th quarter. State Street Corp now owns 711,180 shares of the technology company’s stock worth $36,235,000 after purchasing an additional 19,484 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Innodata by 32.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company’s stock worth $22,517,000 after purchasing an additional 142,192 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Innodata by 8.1% in the 4th quarter. Wellington Management Group LLP now owns 571,987 shares of the technology company’s stock worth $29,143,000 after purchasing an additional 42,847 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INOD shares. Wall Street Zen upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. BWS Financial restated a “top pick” rating and issued a $110.00 target price 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 stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Innodata presently 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.