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

Wealthfront Advisers LLC bought a new position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 58,903 shares of the technology company's stock, valued at approximately $2,328,000. Wealthfront Advisers LLC owned approximately 0.20% of Innodata at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INOD. Barclays PLC grew its holdings in shares of Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after acquiring an additional 29,470 shares in the last quarter. Silverleafe Capital Partners LLC bought a new position in shares of Innodata in the 4th quarter valued at about $913,000. Los Angeles Capital Management LLC bought a new position in shares of Innodata in the 3rd quarter valued at about $330,000. SG Americas Securities LLC bought a new position in shares of Innodata in the 4th quarter valued at about $775,000. Finally, Centiva Capital LP bought a new position in shares of Innodata in the 3rd quarter valued at about $318,000. Institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

Innodata stock traded down $4.55 during midday trading on Tuesday, reaching $41.38. 1,241,645 shares of the company's stock were exchanged, compared to its average volume of 1,158,952. Innodata Inc. has a 52 week low of $5.46 and a 52 week 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. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 48.68 and a beta of 2.59. The stock's 50-day simple moving average is $44.46 and its 200 day simple moving average is $34.14.

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Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.31 EPS for the quarter, topping analysts' consensus estimates 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%. On average, analysts expect that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of Innodata stock in a transaction that occurred on Friday, December 20th. The shares were 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 owns 209,194 shares of the company's stock, valued at approximately $9,204,536. The trade was a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,634 shares of company stock worth $22,639,902 over the last three months. Insiders own 15.23% of the company's stock.

Wall Street Analyst Weigh In

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

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.