Innodata (NASDAQ:INOD) Shares Gap Down Following Insider Selling

Innodata Inc. (NASDAQ:INOD - Get Free Report)'s share price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $52.62, but opened at $49.02. Innodata shares last traded at $51.60, with a volume of 457,896 shares.

Specifically, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. The trade was a 62.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Nauman Sabeeh Toor sold 196,777 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now directly owns 12,417 shares in the company, valued at approximately $799,654.80. The trade was a 94.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Wedbush began coverage on Innodata in a research note on Thursday, December 19th. They issued an "outperform" rating and a $48.00 target price on the stock. BWS Financial upped their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Maxim Group upped their target price on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Chardan Capital restated a "buy" rating and issued a $45.00 target price on shares of Innodata in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Innodata currently has an average rating of "Moderate Buy" and an average target price of $53.00.

Innodata Price Performance

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 stock has a market capitalization of $1.59 billion, a P/E ratio of 59.72 and a beta of 2.57. The firm has a 50-day moving average price of $43.64 and a 200 day moving average price of $31.98.

Innodata (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million during the quarter, compared to analysts' expectations of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. On average, analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Institutional Investors Weigh In On Innodata

Several institutional investors have recently bought and sold shares of INOD. D. E. Shaw & Co. Inc. boosted its holdings in Innodata by 1,718.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after acquiring an additional 892,663 shares during the period. Driehaus Capital Management LLC purchased a new stake in Innodata during the 4th quarter valued at about $16,713,000. JPMorgan Chase & Co. lifted its holdings in Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares during the period. Wellington Management Group LLP purchased a new stake in Innodata in the 4th quarter worth approximately $11,283,000. Finally, Ameriprise Financial Inc. lifted its holdings in Innodata by 322.9% in the 4th quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock worth $13,649,000 after buying an additional 242,871 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.