Prosperity Wealth Management Inc. Makes New $318,000 Investment in Innodata Inc. (NASDAQ:INOD)

Prosperity Wealth Management Inc. purchased a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,050 shares of the technology company's stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INOD. Geode Capital Management LLC raised its stake in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after purchasing an additional 13,609 shares in the last quarter. State Street Corp increased its holdings in Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company's stock valued at $9,011,000 after buying an additional 9,408 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after buying an additional 1,843 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Innodata by 30.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,226 shares of the technology company's stock valued at $2,854,000 after buying an additional 16,961 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in shares of Innodata in the 4th quarter worth approximately $2,328,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the transaction, the chief financial officer now owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This trade represents a 62.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total transaction of $4,849,108.00. Following the completion of the sale, the director now directly owns 209,194 shares of the company's stock, valued at approximately $9,204,536. This represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 385,634 shares of company stock worth $22,639,902 in the last three months. 15.23% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 price target on the stock. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. StockNews.com raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Chardan Capital reaffirmed a "buy" rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial raised their target price on shares of Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.00.

Innodata Stock Performance

Shares of Innodata stock traded up $3.99 during trading on Friday, hitting $47.13. 913,563 shares of the stock were exchanged, compared to its average volume of 2,115,997. The stock has a market cap of $1.48 billion, a PE ratio of 55.50 and a beta of 2.59. The stock's fifty day moving average is $44.30 and its 200 day moving average is $33.35. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $71.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

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 the consensus estimate of $0.11 by $0.20. The company had revenue of $59.18 million for 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, sell-side analysts anticipate that Innodata Inc. will post 0.81 EPS for the current year.

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.