Innodata Inc. (NASDAQ:INOD) CEO Sells $10,435,500.00 in Stock

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 225,000 shares of the firm’s 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 directly owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Innodata Stock Performance

Innodata stock traded up $1.94 during midday trading on Thursday, hitting $46.39. The company’s stock had a trading volume of 2,051,013 shares, compared to its average volume of 723,637. The company has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $17.75. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $49.72. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 78.36 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Institutional Investors Weigh In On Innodata

A number of large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in Innodata during the 3rd quarter worth about $330,000. Vanguard Group Inc. boosted its stake in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after buying an additional 28,173 shares during the period. Rathbones Group PLC bought a new position in Innodata in the 2nd quarter worth about $916,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after acquiring an additional 982 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its position in shares of Innodata by 309.5% during 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 last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Analyst Ratings Changes

INOD has been the subject of several research reports. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, 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 report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

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.