Prosperity Wealth Management Inc. Purchases New Shares in Innodata Inc. (NASDAQ:INOD)

Prosperity Wealth Management Inc. purchased a new stake in Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,050 shares of the technology company’s stock, valued at approximately $318,000.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Innodata by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares during the last quarter. State Street Corp raised its holdings in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after purchasing an additional 9,408 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 1,843 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Innodata by 30.7% during the 4th quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company’s stock worth $2,854,000 after purchasing an additional 16,961 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in Innodata during the 4th quarter worth about $2,328,000. 30.75% of the stock is owned by institutional investors.

Insider Activity at Innodata

In other Innodata news, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. This represents a 44.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the company’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 value of $1,952,700.00. Following the transaction, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 385,634 shares of company stock worth $22,639,902. 15.23% of the stock is owned by company insiders.

Innodata Price Performance

Innodata stock opened at $46.60 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $44.23 and a 200-day moving average of $33.28. Innodata Inc. has a 1 year low of $5.46 and a 1 year high of $71.00. The firm has a market capitalization of $1.46 billion, a P/E ratio of 54.82 and a beta of 2.59.

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, beating the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. On average, equities analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INOD shares. Maxim Group boosted their price objective on Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital restated a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price for the company. Finally, 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

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.