Sierra Summit Advisors LLC bought a new position in Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 12,862 shares of the technology company's stock, valued at approximately $508,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of INOD. JPMorgan Chase & Co. lifted its stake in shares of Innodata by 2,038.4% in the 4th quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock valued at $12,176,000 after purchasing an additional 293,687 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Innodata in the 4th quarter valued at about $11,283,000. Trexquant Investment LP lifted its position in Innodata by 222.8% in the fourth quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock valued at $11,875,000 after buying an additional 207,409 shares during the last quarter. Vanguard Group Inc. lifted its position in Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after buying an additional 117,000 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in Innodata during the fourth quarter worth about $2,328,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on INOD. BWS Financial boosted their target price on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Wedbush began coverage on shares of Innodata in a research note on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Maxim Group increased their price target on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.00.
View Our Latest Stock Analysis on INOD
Innodata Stock Performance
Shares of INOD traded up $0.11 during mid-day trading on Friday, hitting $37.09. 950,212 shares of the company's stock were exchanged, compared to its average volume of 1,273,927. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $71.00. The business's 50 day moving average is $44.93 and its two-hundred day moving average is $37.18. The firm has a market capitalization of $1.16 billion, a P/E ratio of 43.64 and a beta of 2.66.
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 for the quarter, topping analysts' consensus estimates 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, equities analysts expect that Innodata Inc. will post 0.81 earnings per share for the current year.
Insider Activity at Innodata
In other news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. This trade represents a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief operating officer now owns 60,000 shares in the company, valued at approximately $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. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 in the last three months. Insiders own 15.23% of the company's stock.
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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