ExodusPoint Capital Management LP Makes New Investment in Innodata Inc. (NASDAQ:INOD)

ExodusPoint Capital Management LP bought a new position in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,484 shares of the technology company’s stock, valued at approximately $928,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of Innodata during the 4th quarter worth about $29,000. USA Financial Formulas acquired a new position in shares of Innodata during the 4th quarter worth about $36,000. Meeder Asset Management Inc. acquired a new position in shares of Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC boosted its stake in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after buying an additional 456 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Innodata during the 4th quarter worth about $150,000. Institutional investors own 30.75% of the company’s stock.

Insiders Place Their Bets

In other news, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,427 shares of company stock worth $17,790,794 over the last three months. Insiders own 15.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INOD. Maxim Group increased their price objective on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush started coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. Finally, BWS Financial raised their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Innodata Trading Down 0.4 %

Shares of INOD stock opened at $36.98 on Friday. The firm has a 50 day moving average price of $44.96 and a two-hundred day moving average price of $36.88. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.16 billion, a PE ratio of 43.51 and a beta of 2.66. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.20. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

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.