Jack Abuhoff Sells 225,000 Shares of Innodata Inc. (NASDAQ:INOD) Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 225,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at $55,116,044.04. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Innodata Stock Down 1.6 %

Shares of INOD stock traded down $0.73 on Friday, hitting $45.50. The company’s stock had a trading volume of 958,492 shares, compared to its average volume of 724,685. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 78.63 and a beta of 2.30. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The firm’s fifty day moving average price is $22.64 and its 200-day moving average price is $17.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Finally, BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Innodata by 11.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares during the period. Vanguard Group Inc. boosted its stake in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new stake in Innodata in the 1st quarter valued at $94,000. Price T Rowe Associates Inc. MD raised its stake in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after buying an additional 982 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter worth about $8,142,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.