Innodata (NASDAQ:INOD) Shares Gap Down on Insider Selling

Innodata Inc. (NASDAQ:INOD)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $52.62, but opened at $49.02. Innodata shares last traded at $51.60, with a volume of 457,896 shares trading hands.

Specifically, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ashok Mishra sold 48,650 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the sale, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at $3,904,200. This represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’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 transaction, the director now directly owns 12,417 shares of the company’s stock, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

INOD has been the subject of a number of recent research reports. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Wedbush initiated coverage on Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. BWS Financial increased their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Maxim Group lifted their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Chardan Capital reissued a “buy” rating and set a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Trading Up 0.2 %

The firm has a market cap of $1.53 billion, a PE ratio of 60.88 and a beta of 2.57. The firm has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $31.29. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

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

Institutional Investors Weigh In On Innodata

Several institutional investors and hedge funds have recently modified their holdings of INOD. Allworth Financial LP bought a new position in Innodata in the fourth quarter worth about $29,000. USA Financial Formulas bought a new position in shares of Innodata in the 4th quarter worth approximately $36,000. Meeder Asset Management Inc. bought a new position in shares of Innodata in the 4th quarter worth approximately $36,000. AlphaQuest LLC lifted its stake in shares of Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company’s stock valued at $41,000 after purchasing an additional 456 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Innodata during the fourth quarter valued at approximately $150,000. 30.75% of the stock is owned by hedge funds and other 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.