White Pine Capital LLC Sells 12,125 Shares of Innodata Inc. (NASDAQ:INOD)

White Pine Capital LLC decreased its holdings in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,528 shares of the technology company's stock after selling 12,125 shares during the quarter. White Pine Capital LLC's holdings in Innodata were worth $416,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Calamos Advisors LLC purchased a new stake in shares of Innodata in the fourth quarter valued at $283,000. Jennison Associates LLC purchased a new stake in shares of Innodata in the fourth quarter valued at $402,000. Spire Wealth Management purchased a new stake in shares of Innodata in the fourth quarter valued at $166,000. Precision Wealth Strategies LLC purchased a new stake in shares of Innodata in the fourth quarter valued at $466,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Innodata in the fourth quarter valued at $775,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction dated 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 transaction, the director now directly owns 209,194 shares in the company, valued at $9,204,536. This represents a 34.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at approximately $55,116,044.04. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 892,357 shares of company stock worth $40,859,816 in the last three months. Corporate insiders own 15.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on INOD shares. BWS Financial increased their target price on shares of Innodata from $30.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Chardan Capital restated a "buy" rating and issued a $45.00 price target on shares of Innodata in a report on Friday, December 13th. Wedbush started coverage on shares of Innodata in a report on Thursday, December 19th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, StockNews.com upgraded shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.20.

Innodata Stock Up 7.9 %

Innodata stock traded up $4.25 during midday trading on Tuesday, hitting $58.09. 3,658,185 shares of the company's stock were exchanged, compared to its average volume of 1,445,570. 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 Inc. has a 12 month low of $5.46 and a 12 month high of $60.48. The firm has a 50-day moving average of $39.83 and a two-hundred day moving average of $29.14. The company has a market cap of $1.68 billion, a PE ratio of 98.46 and a beta of 2.57.

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.