18,558 Shares in Innodata Inc. (NASDAQ:INOD) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,558 shares of the technology company's stock, valued at approximately $311,000. Principal Financial Group Inc. owned approximately 0.06% of Innodata as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INOD. Price T Rowe Associates Inc. MD boosted its holdings in Innodata by 6.8% during the first 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 last quarter. nVerses Capital LLC bought a new position in shares of Innodata in the 2nd quarter valued at about $27,000. Compass Ion Advisors LLC grew its holdings in shares of Innodata by 5.6% in the 3rd quarter. Compass Ion Advisors LLC now owns 37,674 shares of the technology company's stock valued at $632,000 after acquiring an additional 2,011 shares in the last quarter. Private Advisor Group LLC increased its position in shares of 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. Finally, Rhumbline Advisers raised its holdings in Innodata by 19.2% during the second quarter. Rhumbline Advisers now owns 37,725 shares of the technology company's stock worth $559,000 after acquiring an additional 6,066 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the firm's 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 completion of the sale, the director now owns 25,262 shares in the company, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ashok Mishra sold 92,726 shares of Innodata stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total transaction of $4,002,054.16. The disclosure for this sale can be found here. In the last three months, insiders sold 666,376 shares of company stock worth $30,335,517. 15.23% of the stock is owned by company insiders.

Innodata Stock Performance

NASDAQ INOD traded up $0.62 during trading on Monday, reaching $45.39. 2,416,887 shares of the company's stock were exchanged, compared to its average volume of 738,263. 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 business has a 50 day moving average price of $23.23 and a 200-day moving average price of $18.35. The stock has a market capitalization of $1.32 billion, a P/E ratio of 76.17 and a beta of 2.30. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72.

Wall Street Analyst Weigh In

INOD has been the subject of a number of analyst reports. Craig Hallum started coverage on Innodata in a research note on Tuesday, September 17th. They issued a "buy" rating and a $23.00 price target for the company. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Finally, BWS Financial boosted their target price on shares of Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a 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, Innodata has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

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.