EAM Investors LLC Sells 11,161 Shares of Innodata Inc. (NASDAQ:INOD)

EAM Investors LLC trimmed its holdings in shares of Innodata Inc. (NASDAQ:INOD) by 33.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,485 shares of the technology company’s stock after selling 11,161 shares during the quarter. EAM Investors LLC owned approximately 0.08% of Innodata worth $889,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Wedbush assumed coverage on shares of Innodata in a research note on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, BWS Financial lifted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Transactions at Innodata

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is currently owned by insiders.

Innodata Trading Down 2.6 %

Innodata stock opened at $34.78 on Thursday. Innodata Inc. has a 1 year low of $5.46 and a 1 year high of $71.00. The firm’s 50 day moving average price is $44.60 and its 200-day moving average price is $37.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $1.09 billion, a P/E ratio of 40.92 and a beta of 2.66.

Innodata (NASDAQ:INOD) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $53.01 million. On average, equities analysts predict that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.