Innodata (NASDAQ:INOD) Shares Gap Down After Insider Selling

Innodata Inc. (NASDAQ:INOD) gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $52.62, but opened at $49.02. Innodata shares last traded at $51.60, with a volume of 457,896 shares changing hands.

Specifically, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the sale, the chief financial officer now directly 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 available through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the transaction, the chief operating officer now owns 60,000 shares of the company’s stock, valued at $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the sale, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

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

Innodata Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50 day simple moving average of $43.49 and a 200-day simple moving average of $31.53. The firm has a market cap of $1.53 billion, a PE ratio of 62.02 and a beta of 2.57.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The firm had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. As a group, equities research analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Trading of Innodata

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in shares of Innodata by 2.0% in the fourth quarter. Invesco Ltd. now owns 11,781 shares of the technology company’s stock worth $466,000 after buying an additional 232 shares during the period. NewEdge Advisors LLC grew its position in Innodata by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company’s stock worth $447,000 after acquiring an additional 300 shares during the last quarter. AlphaQuest LLC increased its stake in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock worth $41,000 after purchasing an additional 456 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Innodata by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,374 shares of the technology company’s stock valued at $608,000 after purchasing an additional 533 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Innodata during the fourth quarter valued at approximately $29,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.