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

Innodata Inc. (NASDAQ:INOD)’s stock price gapped down prior to trading on Friday following insider selling activity. 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 changing hands.

Specifically, CFO Marissa B. Espineli sold 30,000 shares of the business’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 value of $1,952,700.00. Following the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at $1,171,620. The trade was a 62.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Ashok Mishra sold 48,650 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 60,000 shares of the company’s stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now owns 12,417 shares of the company’s stock, valued at $799,654.80. The trade was a 94.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Chardan Capital reiterated a “buy” rating and issued a $45.00 price target on shares of Innodata in a research report on Friday, December 13th. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Wedbush assumed coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target on the stock. BWS Financial raised their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research note 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Innodata Price Performance

The business has a 50 day simple moving average of $43.30 and a two-hundred day simple moving average of $31.29. The firm has a market capitalization of $1.53 billion, a P/E ratio of 60.88 and a beta of 2.57. 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 quarterly earnings data 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. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company had revenue of $59.18 million for the quarter, compared to analysts’ expectations of $53.01 million. On average, sell-side analysts expect that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Institutional Trading of Innodata

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC increased its stake in Innodata by 17.4% in the third 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. Principal Financial Group Inc. bought a new position in shares of Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC purchased a new position in shares of Innodata during the 3rd quarter valued at about $330,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after buying an additional 1,843 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted 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 worth $225,000 after buying an additional 3,739 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

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.