Insider Selling: Innodata Inc. (NASDAQ:INOD) COO Sells 48,650 Shares of Stock

Innodata Inc. (NASDAQ:INOD) COO Ashok Mishra sold 48,650 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Ashok Mishra also recently made the following trade(s):

• On Wednesday, December 4th, Ashok Mishra sold 58,500 shares of Innodata stock. The stock was sold at an average price of $44.97, for a total transaction of $2,630,745.00.

Innodata Stock Performance

Shares of INOD opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a one year low of $5.46 and a one year high of $71.00. The company has a 50-day simple moving average of $43.49 and a two-hundred day simple moving average of $31.64. The firm has a market capitalization of $1.53 billion, a PE ratio of 62.02 and a beta of 2.57.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating 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 business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. On average, analysts anticipate that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently made changes to their positions in INOD. D. E. Shaw & Co. Inc. increased its stake in shares of Innodata by 1,718.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company’s stock valued at $37,331,000 after purchasing an additional 892,663 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Innodata during the fourth quarter valued at approximately $16,713,000. JPMorgan Chase & Co. increased its stake in shares of Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock valued at $12,176,000 after purchasing an additional 293,687 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Innodata during the fourth quarter valued at approximately $11,283,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Innodata by 322.9% during the fourth quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company’s stock valued at $13,649,000 after purchasing an additional 242,871 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.