Private Advisor Group LLC Cuts Stake in Innodata Inc. (NASDAQ:INOD)

Private Advisor Group LLC cut its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,000 shares of the technology company's stock after selling 7,907 shares during the period. Private Advisor Group LLC's holdings in Innodata were worth $277,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Innodata by 9.9% in the 4th quarter. Principal Financial Group Inc. now owns 20,386 shares of the technology company's stock worth $806,000 after purchasing an additional 1,828 shares during the period. Allworth Financial LP acquired a new position in shares of Innodata in the 4th quarter worth approximately $29,000. Calamos Advisors LLC acquired a new position in shares of Innodata in the 4th quarter worth approximately $283,000. Jennison Associates LLC acquired a new position in shares of Innodata in the 4th quarter worth approximately $402,000. Finally, Spire Wealth Management acquired a new position in shares of Innodata in the 4th quarter worth approximately $166,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Innodata Trading Up 2.0 %

Shares of NASDAQ:INOD traded up $0.94 during mid-day trading on Friday, hitting $47.25. The company had a trading volume of 1,669,620 shares, compared to its average volume of 2,151,342. The company has a market capitalization of $1.48 billion, a PE ratio of 55.59 and a beta of 2.59. The firm has a fifty day moving average price of $44.06 and a 200 day moving average price of $32.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a one year low of $5.46 and a one year high of $71.00.

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Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $53.01 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. As a group, research analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the completion of the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. This trade represents a 44.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 385,634 shares of company stock worth $22,639,902. 15.23% of the stock is owned by corporate insiders.

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.