Insider Selling: Innodata Inc. (NASDAQ:INOD) Director Sells 50,000 Shares of Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was 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 owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Innodata Price Performance

Shares of NASDAQ:INOD traded down $0.17 on Thursday, hitting $39.16. The stock had a trading volume of 1,189,208 shares, compared to its average volume of 697,712. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $49.72. 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 firm’s 50 day moving average price is $19.36 and its 200-day moving average price is $16.52. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 65.63 and a beta of 2.30.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INOD shares. StockNews.com upgraded shares of Innodata to a “sell” rating in a research note on Friday, November 8th. 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 research note on Friday, November 8th. Finally, Craig Hallum initiated coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INOD. Janus Henderson Group PLC acquired a new position in shares of Innodata during the 1st quarter worth about $8,142,000. Deerfield Management Company L.P. Series C raised 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 valued at $1,658,000 after acquiring an additional 84,509 shares during the period. Rathbones Group PLC bought a new position in Innodata during the 2nd quarter worth $916,000. Marshall Wace LLP increased its position in Innodata by 83.9% during the 2nd quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after buying an additional 38,954 shares during the period. Finally, Vanguard Group Inc. increased its position in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares during the period. 30.75% of the stock is owned by institutional investors.

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.