58,903 Shares in Innodata Inc. (NASDAQ:INOD) Acquired by Wealthfront Advisers LLC

Wealthfront Advisers 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 58,903 shares of the technology company's stock, valued at approximately $2,328,000. Wealthfront Advisers LLC owned about 0.20% of Innodata as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INOD. Allworth Financial LP acquired a new stake in shares of Innodata during the 4th quarter worth about $29,000. USA Financial Formulas acquired a new stake in shares of Innodata during the 4th quarter worth about $36,000. AlphaQuest LLC increased its position in shares of Innodata by 79.4% during the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after purchasing an additional 456 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Innodata during the 4th quarter worth about $150,000. Finally, Spire Wealth Management acquired a new stake in shares of Innodata during the 4th quarter worth about $166,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Maxim Group raised their price objective on Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. BWS Financial raised their price objective on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Chardan Capital reissued a "buy" rating and set a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Finally, Wedbush began coverage on Innodata in a report on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Innodata currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

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Insider Activity

In related news, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 60,000 shares in the company, valued at $3,904,200. The trade was a 44.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 385,634 shares of company stock worth $22,639,902. 15.23% of the stock is currently owned by company insiders.

Innodata Trading Down 2.0 %

Innodata stock traded down $0.97 during midday trading on Monday, reaching $47.21. 1,021,570 shares of the stock traded hands, compared to its average volume of 2,126,347. The company has a 50-day simple moving average of $44.38 and a two-hundred day simple moving average of $33.77. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $71.00. The firm has a market cap of $1.48 billion, a PE ratio of 55.15 and a beta of 2.59. 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 (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. The business 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%. Research analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

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.