Insider Selling: Innodata (NASDAQ:INOD) COO Sells 38,666 Shares of Stock

Innodata Inc. (NASDAQ:INOD) COO Ashok Mishra sold 38,666 shares of Innodata stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total value of $4,421,070.44. Following the sale, the chief operating officer directly owned 83,179 shares of the company’s stock, valued at $9,510,686.86. This represents a 31.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ashok Mishra also recently made the following trade(s):

• On Tuesday, May 12th, Ashok Mishra sold 242,901 shares of Innodata stock. The shares were sold at an average price of $90.15, for a total value of $21,897,525.15.

Innodata Stock Performance

NASDAQ:INOD opened at $114.22 on Wednesday. The business’s 50-day moving average price is $60.14 and its two-hundred day moving average price is $55.25. The stock has a market cap of $3.73 billion, a P/E ratio of 102.90 and a beta of 2.83. Innodata Inc. has a twelve month low of $34.23 and a twelve month high of $118.45. 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 (NASDAQ:INOD) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.34. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, equities analysts predict that Innodata Inc. will post 0.99 EPS for the current fiscal year.

Institutional Trading of Innodata

A number of institutional investors and hedge funds have recently bought and sold shares of INOD. Glenmede Trust Co. NA grew its stake in shares of Innodata by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock worth $283,000 after acquiring an additional 248 shares during the period. Bank of America Corp DE boosted its holdings 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 worth $3,950,000 after buying an additional 62,361 shares during the last quarter. H&H International Investment LLC purchased a new position in shares of Innodata in the first quarter worth approximately $386,000. Janus Henderson Group PLC lifted its holdings in Innodata by 13.8% during the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock valued at $20,315,000 after purchasing an additional 63,779 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Innodata by 36.8% during the first quarter. California State Teachers Retirement System now owns 40,611 shares of the technology company’s stock valued at $1,568,000 after purchasing an additional 10,927 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on INOD. BWS Financial reaffirmed a “top pick” rating and set a $110.00 target price on shares of Innodata in a report on Friday, April 10th. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Wedbush raised their target price on shares of Innodata from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings cut shares of Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

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.