Geode Capital Management LLC Buys 13,609 Shares of Innodata Inc. (NASDAQ:INOD)

Geode Capital Management LLC raised its position in Innodata Inc. (NASDAQ:INOD - Free Report) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,748 shares of the technology company's stock after buying an additional 13,609 shares during the quarter. Geode Capital Management LLC owned 2.12% of Innodata worth $10,294,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INOD. Bank of New York Mellon Corp increased its holdings in shares of Innodata by 19.1% during the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company's stock worth $1,158,000 after purchasing an additional 12,515 shares during the period. nVerses Capital LLC bought a new stake in shares of Innodata in the second quarter valued at approximately $27,000. Rhumbline Advisers grew its position 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 buying an additional 6,066 shares in the last quarter. Rathbones Group PLC bought a new position in Innodata during the 2nd quarter worth $916,000. Finally, XTX Topco Ltd acquired a new position in Innodata in the 2nd quarter valued at $285,000. Institutional investors own 30.75% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Craig Hallum initiated coverage on Innodata in a report on Tuesday, September 17th. They set a "buy" rating and a $23.00 target price on the stock. BWS Financial increased their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. StockNews.com upgraded shares of Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target for the company. Finally, Chardan Capital reissued a "buy" rating and issued a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.20.

Insider Activity at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $10,435,500.00. Following the completion of the transaction, the chief executive officer now owns 1,188,358 shares of the company's stock, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,035,083 shares of company stock valued at $46,889,370 in the last quarter. Insiders own 15.23% of the company's stock.

Innodata Price Performance

Shares of INOD traded down $0.02 during mid-day trading on Thursday, reaching $39.50. The company had a trading volume of 829,719 shares, compared to its average volume of 852,174. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 66.95 and a beta of 2.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The company's 50 day simple moving average is $37.41 and its 200 day simple moving average is $23.81. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $55.17.

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.