Los Angeles Capital Management LLC Lowers Stake in Innodata Inc. (NASDAQ:INOD)

Los Angeles Capital Management LLC cut its position in Innodata Inc. (NASDAQ:INOD) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,201 shares of the technology company’s stock after selling 3,495 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Innodata were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new position in Innodata in the 3rd quarter worth approximately $311,000. Jennison Associates LLC bought a new stake in shares of Innodata during the fourth quarter valued at approximately $402,000. Geode Capital Management LLC raised its position in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. Silverleafe Capital Partners LLC purchased a new position in shares of Innodata in the fourth quarter worth $913,000. Finally, Calamos Advisors LLC bought a new position in shares of Innodata during the fourth quarter worth $283,000. 30.75% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 644,134 shares of company stock valued at $34,344,647. 15.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on INOD shares. Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Maxim Group raised their price target on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.00.

Innodata Stock Up 0.2 %

NASDAQ INOD opened at $52.72 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 62.02 and a beta of 2.57. The company has a fifty day moving average of $43.49 and a two-hundred day moving average of $31.74.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $53.01 million. On average, 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.