Innodata (NASDAQ:INOD) CEO Jack Abuhoff Sells 94,059 Shares

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 94,059 shares of Innodata stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $105.70, for a total transaction of $9,942,036.30. Following the transaction, the chief executive officer directly owned 1,340,456 shares of the company’s stock, valued at approximately $141,686,199.20. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, June 16th, Jack Abuhoff sold 200,000 shares of Innodata stock. The stock was sold at an average price of $110.20, for a total transaction of $22,040,000.00.
• On Friday, May 29th, Jack Abuhoff sold 105,586 shares of Innodata stock. The shares were sold at an average price of $103.50, for a total value of $10,928,151.00.
• On Friday, May 22nd, Jack Abuhoff sold 38,056 shares of Innodata stock. The shares were sold at an average price of $100.39, for a total value of $3,820,441.84.
• 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 value 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 value 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 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 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 Price Performance

INOD stock traded up $7.76 during trading on Tuesday, hitting $107.42. The company had a trading volume of 2,292,299 shares, compared to its average volume of 1,669,499. The company has a fifty day moving average price of $74.46 and a two-hundred day moving average price of $59.08. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.51 billion, a P/E ratio of 96.77 and a beta of 2.83. Innodata Inc. has a fifty-two week low of $34.23 and a fifty-two week high of $125.14.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. Equities research analysts expect that Innodata Inc. will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rathbones Group PLC lifted its position in Innodata by 20.8% during the first quarter. Rathbones Group PLC now owns 144,247 shares of the technology company’s stock valued at $5,571,000 after acquiring an additional 24,837 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Innodata by 7.7% during the first quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company’s stock worth $552,000 after purchasing an additional 1,023 shares during the last quarter. Glenmede Trust Co. NA grew its position in Innodata by 3.5% during the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock valued at $283,000 after buying an additional 248 shares during the period. Bank of America Corp DE grew its position in shares of Innodata by 156.3% in the first quarter. Bank of America Corp DE now owns 102,268 shares of the technology company’s stock valued at $3,950,000 after purchasing an additional 62,361 shares during the period. Finally, H&H International Investment LLC purchased a new position in shares of Innodata in the first quarter worth about $386,000. 30.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INOD. Weiss Ratings raised Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. BWS Financial restated a “buy” rating on shares of Innodata in a research report on Monday. Wedbush raised their target price on Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.00.

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.