Stewart R. Massey Sells 50,000 Shares of Innodata Inc. (NASDAQ:INOD) Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the transaction, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Innodata Trading Down 6.2 %

INOD opened at $36.75 on Friday. The stock has a 50-day moving average of $19.84 and a 200 day moving average of $16.68. 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 Inc. has a 12 month low of $5.46 and a 12 month high of $49.72. The firm has a market cap of $1.07 billion, a P/E ratio of 62.29 and a beta of 2.30.

Hedge Funds Weigh In On Innodata

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Innodata by 11.2% during the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock valued at $147,000 after buying an additional 2,230 shares during the period. Vanguard Group Inc. raised its stake in shares of Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 28,173 shares during the period. Elkhorn Partners Limited Partnership bought a new stake in shares of Innodata in the 1st quarter worth about $94,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock worth $102,000 after purchasing an additional 982 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Innodata during the 1st quarter valued at about $8,142,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

INOD has been the topic of a number of research analyst reports. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday. BWS Financial upped their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Craig Hallum initiated coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Innodata has a consensus rating of “Moderate Buy” and a consensus 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.