Innodata Inc. (NASDAQ:INOD) CFO Sells $1,952,700.00 in Stock

Innodata Inc. (NASDAQ:INOD) CFO Marissa B. Espineli sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This represents a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Innodata Stock Performance

NASDAQ:INOD opened at $52.62 on Friday. The stock has a 50-day moving average price of $43.30 and a 200 day moving average price of $31.29. The stock has a market capitalization of $1.53 billion, a P/E ratio of 61.91 and a beta of 2.57. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

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

Hedge Funds Weigh In On Innodata

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Palisades Investment Partners LLC raised its holdings in shares of Innodata by 6.1% during the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company’s stock worth $14,569,000 after acquiring an additional 21,093 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Innodata in the fourth quarter valued at $5,282,000. State of Wyoming bought a new stake in Innodata in the fourth quarter worth $250,000. ProShare Advisors LLC purchased a new stake in Innodata during the fourth quarter valued at $301,000. Finally, Nuveen Asset Management LLC lifted its position in Innodata by 20.6% during the fourth quarter. Nuveen Asset Management LLC now owns 312,639 shares of the technology company’s stock valued at $12,355,000 after purchasing an additional 53,376 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Innodata

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.