Trexquant Investment LP Buys 207,409 Shares of Innodata Inc. (NASDAQ:INOD)

Trexquant Investment LP grew its stake in Innodata Inc. (NASDAQ:INOD) by 222.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,488 shares of the technology company’s stock after purchasing an additional 207,409 shares during the quarter. Trexquant Investment LP’s holdings in Innodata were worth $11,875,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. bought a new position in Innodata during the 4th quarter valued at $689,000. Meeder Asset Management Inc. purchased a new stake in shares of Innodata in the fourth quarter valued at about $36,000. Wellington Management Group LLP bought a new position in shares of Innodata during the fourth quarter valued at about $11,283,000. JPMorgan Chase & Co. boosted its holdings in Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company’s stock worth $12,176,000 after purchasing an additional 293,687 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Innodata by 91.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 14,329 shares of the technology company’s stock valued at $566,000 after buying an additional 6,850 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Innodata Trading Up 3.6 %

Shares of INOD opened at $37.85 on Thursday. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $71.00. The business has a 50-day moving average of $45.38 and a 200 day moving average of $35.96. The firm has a market cap of $1.18 billion, a P/E ratio of 44.53 and a beta of 2.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. The firm had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling at Innodata

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at $799,654.80. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,427 shares of company stock valued at $17,790,794 in the last 90 days. 15.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush assumed coverage on Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 target price on the stock. Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Chardan Capital reissued a “buy” rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Finally, BWS Financial lifted their price objective on shares of Innodata from $45.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.