White Pine Capital LLC Decreases Stock Holdings in Innodata Inc. (NASDAQ:INOD)

White Pine Capital LLC reduced its stake in shares of Innodata Inc. (NASDAQ:INOD) by 53.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,528 shares of the technology company’s stock after selling 12,125 shares during the quarter. White Pine Capital LLC’s holdings in Innodata were worth $416,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas bought a new stake in Innodata during the 4th quarter valued at about $36,000. Spire Wealth Management acquired a new stake in shares of Innodata in the 4th quarter worth $166,000. Point72 Asset Management L.P. purchased a new stake in shares of Innodata during the third quarter worth about $206,000. BNP Paribas Financial Markets increased its stake in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Innodata by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,408 shares of the technology company’s stock worth $242,000 after acquiring an additional 2,099 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on INOD shares. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Wedbush assumed coverage on shares of Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, BWS Financial upped their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Insider Transactions at Innodata

In other Innodata news, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now owns 1,188,358 shares of the company’s stock, valued at $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the transaction, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 985,083 shares of company stock valued at $44,861,870 over the last three months. 15.23% of the stock is currently owned by insiders.

Innodata Trading Up 19.3 %

Shares of Innodata stock opened at $52.29 on Friday. The company has a 50-day moving average of $39.30 and a two-hundred day moving average of $28.34. The stock has a market cap of $1.52 billion, a PE ratio of 88.63 and a beta of 2.57. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $55.17. 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 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.