Innodata Inc. (NASDAQ:INOD) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Innodata Inc. (NASDAQ:INOD) by 2.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 613,748 shares of the technology company’s stock after acquiring an additional 13,609 shares during the quarter. Geode Capital Management LLC’s holdings in Innodata were worth $10,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in INOD. nVerses Capital LLC purchased a new stake in shares of Innodata in the second quarter valued at about $27,000. Point72 Asset Management L.P. acquired a new position in Innodata in the 3rd quarter valued at about $206,000. BNP Paribas Financial Markets increased its position in Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after acquiring an additional 3,739 shares during the period. Private Advisor Group LLC raised its stake in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after acquiring an additional 2,207 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Innodata during the 2nd quarter worth approximately $285,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Craig Hallum started coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. Finally, BWS Financial raised their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Innodata currently has an average rating of “Moderate Buy” and an average target price of $38.20.

Innodata Stock Performance

Shares of INOD opened at $39.52 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $55.17. The company has a 50-day simple moving average of $37.01 and a 200-day simple moving average of $23.70. The company has a market capitalization of $1.15 billion, a PE ratio of 66.98 and a beta of 2.56.

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.