ExodusPoint Capital Management LP acquired a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 23,484 shares of the technology company's stock, valued at approximately $928,000. ExodusPoint Capital Management LP owned 0.08% of Innodata as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Innodata in the fourth quarter worth $536,000. Trexquant Investment LP grew its stake in Innodata by 222.8% in the fourth quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock worth $11,875,000 after purchasing an additional 207,409 shares in the last quarter. Franklin Resources Inc. bought a new stake in Innodata in the fourth quarter valued at about $689,000. Meeder Asset Management Inc. acquired a new stake in Innodata during the fourth quarter valued at approximately $36,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Innodata during the 4th quarter valued at approximately $11,283,000. 30.75% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Innodata
In related news, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total value of $3,165,655.50. Following the sale, the chief operating officer now owns 60,000 shares of the company's stock, valued at $3,904,200. The trade was a 44.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares of the company's stock, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,427 shares of company stock valued at $17,790,794. 15.23% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Maxim Group raised their target price on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wedbush began coverage on shares of Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Finally, BWS Financial raised their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.00.
Read Our Latest Research Report on Innodata
Innodata Stock Performance
NASDAQ INOD traded down $0.87 during trading on Wednesday, hitting $34.84. The company's stock had a trading volume of 152,434 shares, compared to its average volume of 1,274,153. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00. The firm has a 50 day moving average price of $44.77 and a 200 day moving average price of $37.30. The firm has a market cap of $1.09 billion, a P/E ratio of 41.12 and a beta of 2.66. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15.
Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities research analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.
About Innodata
(
Free Report)
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.
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