Jack Abuhoff Sells 225,000 Shares of Innodata Inc. (NASDAQ:INOD) Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Innodata Stock Performance

Shares of NASDAQ:INOD opened at $44.77 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $49.72. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 75.88 and a beta of 2.30. The firm’s 50-day moving average is $22.64 and its 200 day moving average is $17.95.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price on the stock. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, BWS Financial boosted their target price on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Innodata currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after acquiring an additional 982 shares during the last quarter. nVerses Capital LLC purchased a new stake in Innodata in the second quarter worth $27,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 1,843 shares during the period. Compass Ion Advisors LLC boosted its stake in shares of Innodata by 5.6% during the third quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company’s stock valued at $632,000 after purchasing an additional 2,011 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Innodata by 17.4% in the third quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,207 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

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.