Innodata (NASDAQ:INOD) Trading Down 6.1% on Insider Selling

Innodata Inc. (NASDAQ:INOD) shares were down 6.1% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $89.00 and last traded at $90.1060. Approximately 532,899 shares traded hands during trading, a decline of 66% from the average daily volume of 1,568,802 shares. The stock had previously closed at $95.91.

Specifically, CEO Jack Abuhoff sold 38,056 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.39, for a total value of $3,820,441.84. Following the completion of the sale, the chief executive officer owned 1,340,456 shares of the company’s stock, valued at approximately $134,568,377.84. This represents a 2.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Louise C. Forlenza sold 18,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $94.47, for a total transaction of $1,700,460.00. Following the completion of the transaction, the director directly owned 3,943 shares of the company’s stock, valued at $372,495.21. This represents a 82.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

Several research firms have issued reports on INOD. Weiss Ratings lowered shares of Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. BWS Financial reissued a “top pick” rating and issued a $110.00 price objective on shares of Innodata in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Wedbush upped their target price on shares of Innodata from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Innodata Price Performance

The business has a fifty day moving average of $55.53 and a two-hundred day moving average of $54.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 81.55 and a beta of 2.40.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 54.5% on a year-over-year basis. As a group, research analysts predict that Innodata Inc. will post 0.99 EPS for the current fiscal year.

Institutional Trading of Innodata

Several hedge funds and other institutional investors have recently modified their holdings of INOD. AQR Capital Management LLC raised its holdings in Innodata by 446.4% in the 1st quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after acquiring an additional 74,320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Innodata by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after purchasing an additional 711 shares during the last quarter. Millennium Management LLC grew its position in shares of Innodata by 30.7% in the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after purchasing an additional 33,473 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Innodata by 16.0% during the second quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 2,816 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Innodata by 1,527.3% during the second quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock worth $483,000 after purchasing an additional 8,843 shares during the period. Institutional investors own 30.75% of the company’s stock.

About Innodata

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.