Insider Selling: Innodata (NASDAQ:INOD) Director Sells $535,400.00 in Stock

Innodata Inc. (NASDAQ:INOD) Director Louise Forlenza sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $53.54, for a total transaction of $535,400.00. Following the transaction, the director directly owned 5,424 shares in the company, valued at $290,400.96. The trade was a 64.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Innodata Stock Up 2.8%

INOD stock opened at $56.98 on Friday. Innodata Inc. has a 12-month low of $34.23 and a 12-month high of $125.14. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 43.17 and a beta of 2.88. The company has a 50 day moving average of $60.08 and a two-hundred day moving average of $64.33.

Innodata (NASDAQ:INOD) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.21 by $0.20. Innodata had a net margin of 14.66% and a return on equity of 37.79%. The business had revenue of $92.14 million for the quarter, compared to analysts’ expectations of $86.31 million. During the same period in the previous year, the company posted $0.20 EPS. Innodata’s revenue was up 57.8% on a year-over-year basis. On average, equities analysts anticipate that Innodata Inc. will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Innodata

Several large investors have recently made changes to their positions in INOD. Glenmede Trust Co. NA boosted its stake in Innodata by 3.5% during the 1st quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company’s stock valued at $283,000 after purchasing an additional 248 shares during the period. Compass Financial Management LLC acquired a new stake in Innodata in the 2nd quarter valued at approximately $26,000. Texas Yale Capital Corp. increased its position in Innodata by 5.5% in the 4th quarter. Texas Yale Capital Corp. now owns 8,440 shares of the technology company’s stock worth $430,000 after buying an additional 440 shares during the period. Ancora Advisors LLC bought a new position in Innodata in the 2nd quarter worth approximately $36,000. Finally, IFP Advisors Inc lifted its holdings in shares of Innodata by 74.8% during the fourth quarter. IFP Advisors Inc now owns 1,166 shares of the technology company’s stock worth $59,000 after buying an additional 499 shares during the last quarter. Institutional investors own 30.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INOD. Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. BWS Financial restated a “top pick” rating and issued a $140.00 price objective on shares of Innodata in a report on Friday, August 7th. Wedbush raised their price objective on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.00.

About Innodata

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.