Wealthfront Advisers LLC Buys New Position in Innodata Inc. (NASDAQ:INOD)

Wealthfront Advisers LLC bought a new stake in Innodata Inc. (NASDAQ:INOD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,903 shares of the technology company's stock, valued at approximately $2,328,000. Wealthfront Advisers LLC owned about 0.20% of Innodata at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INOD. Principal Financial Group Inc. acquired a new position in shares of Innodata during the 3rd quarter valued at about $311,000. Los Angeles Capital Management LLC acquired a new position in shares of Innodata during the 3rd quarter valued at about $330,000. Charles Schwab Investment Management Inc. increased its stake in shares of Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock valued at $1,291,000 after acquiring an additional 1,843 shares during the last quarter. BNP Paribas Financial Markets increased its position in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after purchasing an additional 3,739 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in Innodata during the 3rd quarter worth approximately $318,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Insider Activity

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

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Analysts Set New Price Targets

INOD has been the subject of a number of research analyst reports. Wedbush initiated coverage on shares of Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price for the company. 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 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 report on Friday, December 13th. Finally, BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Innodata Stock Down 8.2 %

Shares of Innodata stock traded down $3.78 on Tuesday, hitting $42.15. 574,575 shares of the company's stock traded hands, compared to its average volume of 2,107,617. The stock has a market cap of $1.32 billion, a P/E ratio of 49.59 and a beta of 2.59. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm's 50-day moving average is $44.42 and its 200 day moving average is $33.97. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last released its 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 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%. Equities analysts anticipate that Innodata Inc. will post 0.81 earnings per share 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.