Innodata (NASDAQ:INOD) Shares Gap Down Following Insider Selling

Innodata Inc. (NASDAQ:INOD) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $45.39, but opened at $42.16. Innodata shares last traded at $43.35, with a volume of 591,520 shares.

Specifically, CEO Jack Abuhoff sold 187,099 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.07, for a total transaction of $8,619,650.93. Following the sale, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $54,747,653.06. The trade was a 13.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $45.10, for a total transaction of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO Marissa B. Espineli sold 38,333 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.17, for a total transaction of $1,808,167.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of research analysts have issued reports on INOD shares. StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum assumed coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, BWS Financial lifted their price objective on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.67.

Innodata Trading Down 4.5 %

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 76.93 and a beta of 2.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day simple moving average is $23.83 and its 200-day simple moving average is $18.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INOD. nVerses Capital LLC acquired a new stake in Innodata during the 2nd quarter valued at $27,000. Price T Rowe Associates Inc. MD lifted its position in shares of Innodata by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after acquiring an additional 982 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Innodata during the third quarter valued at $206,000. 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, Private Advisor Group LLC raised its stake in Innodata by 17.4% in the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.