Hsbc Holdings PLC Cuts Position in Innodata Inc. $INOD

Hsbc Holdings PLC lessened its position in Innodata Inc. (NASDAQ:INOD) by 44.5% during the fourth quarter, Holdings Channel reports. The fund owned 12,352 shares of the technology company’s stock after selling 9,919 shares during the period. Hsbc Holdings PLC’s holdings in Innodata were worth $629,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Innodata in the 4th quarter worth about $26,000. Farther Finance Advisors LLC lifted its position in Innodata by 506.0% in the 4th quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company’s stock worth $41,000 after buying an additional 673 shares during the last quarter. IFP Advisors Inc lifted its position in Innodata by 1,567.5% in the 3rd quarter. IFP Advisors Inc now owns 667 shares of the technology company’s stock worth $51,000 after buying an additional 627 shares during the last quarter. Leonteq Securities AG purchased a new stake in Innodata in the fourth quarter worth approximately $51,000. Finally, FNY Investment Advisers LLC boosted its stake in Innodata by 2,675.0% in the fourth quarter. FNY Investment Advisers LLC now owns 1,030 shares of the technology company’s stock worth $52,000 after buying an additional 1,070 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Insider Activity

In other Innodata news, CEO Jack Abuhoff sold 200,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00. Following the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $147,718,251.20. The trade was a 12.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 19,667 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $105.88, for a total transaction of $2,082,341.96. Following the completion of the transaction, the chief financial officer owned 28,014 shares in the company, valued at $2,966,122.32. The trade was a 41.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,472,885 shares of company stock valued at $143,998,492. 11.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research raised shares of Innodata from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. BWS Financial reaffirmed a “buy” rating on shares of Innodata in a report on Monday, June 15th. Wedbush lifted their target price on shares of Innodata from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of Innodata from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $130.00.

Innodata Price Performance

Shares of Innodata stock opened at $65.31 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49. Innodata Inc. has a one year low of $34.23 and a one year high of $125.14. The business’s 50 day simple moving average is $88.93 and its two-hundred day simple moving average is $62.38. The stock has a market capitalization of $2.13 billion, a P/E ratio of 58.84 and a beta of 2.89.

Innodata (NASDAQ:INOD) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The firm had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s quarterly revenue was up 54.5% compared to the same quarter last year. Analysts forecast that Innodata Inc. will post 1.14 EPS for the current year.

Innodata Company Profile

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.