Innodata Inc. (NASDAQ:INOD) Director Sells $2,027,500.00 in Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Innodata Stock Down 6.2 %

Innodata stock opened at $36.75 on Friday. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50-day simple moving average is $20.30 and its 200 day simple moving average is $16.89. The stock has a market cap of $1.07 billion, a PE ratio of 62.29 and a beta of 2.30.

Hedge Funds Weigh In On Innodata

Several institutional investors have recently modified their holdings of INOD. BNP Paribas Financial Markets lifted its holdings in Innodata by 11.2% during the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares during the period. Vanguard Group Inc. raised its stake in shares of Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares during the period. Elkhorn Partners Limited Partnership bought a new stake in shares of Innodata during the 1st quarter worth $94,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after buying an additional 982 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in Innodata during the first quarter valued at about $8,142,000. 30.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on INOD shares. Craig Hallum assumed coverage on shares of Innodata in a research report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday. Finally, BWS Financial raised their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

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.