Insider Selling: Innodata Inc. (NASDAQ:INOD) CEO Sells $8,619,650.93 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 187,099 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the transaction, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at $54,747,653.06. This represents a 13.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Jack Abuhoff also recently made the following trade(s):

• On Thursday, November 21st, Jack Abuhoff sold 225,000 shares of Innodata stock. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00.

Innodata Stock Down 5.1 %

INOD opened at $38.33 on Thursday. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $49.72. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.11 billion, a PE ratio of 64.97 and a beta of 2.30. The company has a 50 day moving average of $24.84 and a 200 day moving average of $18.93.

Institutional Trading of Innodata

Several institutional investors and hedge funds have recently bought and sold shares of INOD. Janus Henderson Group PLC purchased a new stake in Innodata in the 1st quarter worth approximately $8,142,000. Deerfield Management Company L.P. Series C lifted its stake in Innodata by 309.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares in the last quarter. Rathbones Group PLC purchased a new stake in Innodata in the 2nd quarter worth approximately $916,000. Marshall Wace LLP lifted its stake in Innodata by 83.9% in the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after purchasing an additional 38,954 shares in the last quarter. Finally, Barclays PLC lifted its stake in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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