Principal Financial Group Inc. Invests $311,000 in Innodata Inc. (NASDAQ:INOD)

Principal Financial Group Inc. acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 18,558 shares of the technology company’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its position in Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock valued at $647,000 after purchasing an additional 29,470 shares during the last quarter. Geode Capital Management LLC raised its holdings in Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock valued at $10,294,000 after buying an additional 13,609 shares during the last quarter. State Street Corp boosted its position in Innodata by 1.8% during the 3rd quarter. State Street Corp now owns 537,301 shares of the technology company’s stock worth $9,011,000 after buying an additional 9,408 shares during the period. Point72 Asset Management L.P. bought a new stake in Innodata during the 3rd quarter worth approximately $206,000. Finally, Centiva Capital LP bought a new stake in Innodata during the 3rd quarter worth approximately $318,000. Institutional investors own 30.75% of the company’s stock.

Insider Transactions at Innodata

In other Innodata news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the transaction, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Louise C. Forlenza sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.10, for a total value of $180,400.00. Following the sale, the director now owns 8,278 shares of the company’s stock, valued at approximately $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock valued at $46,889,370 in the last quarter. 15.23% of the stock is currently owned by company insiders.

Innodata Trading Down 1.3 %

Shares of INOD stock opened at $43.76 on Tuesday. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $55.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day simple moving average of $37.89 and a two-hundred day simple moving average of $24.15. The company has a market cap of $1.27 billion, a P/E ratio of 74.17 and a beta of 2.59.

Wall Street Analysts Forecast Growth

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

Innodata 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.