Harbour Capital Advisors LLC Makes New $292,000 Investment in Innodata Inc. (NASDAQ:INOD)

Harbour Capital Advisors LLC bought a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,400 shares of the technology company’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also modified their holdings of INOD. Principal Financial Group Inc. bought a new stake in shares of Innodata in the third quarter worth $311,000. Los Angeles Capital Management LLC acquired a new position in Innodata during the 3rd quarter worth $330,000. Geode Capital Management LLC increased its position in shares of Innodata by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company’s stock worth $10,294,000 after purchasing an additional 13,609 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of Innodata in the 4th quarter valued at about $913,000. Finally, Barclays PLC grew its stake in Innodata by 324.3% in the third quarter. Barclays PLC now owns 38,557 shares of the technology company’s stock worth $647,000 after purchasing an additional 29,470 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Trading Down 7.0 %

Shares of NASDAQ:INOD opened at $33.43 on Tuesday. 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 company’s 50-day moving average price is $39.90 and its 200 day moving average price is $25.16. The company has a market cap of $969.47 million, a PE ratio of 56.66 and a beta of 2.59. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $55.17.

Insider Buying and Selling

In other Innodata news, CEO Jack Abuhoff sold 225,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $44.00, for a total value of $4,849,108.00. Following the transaction, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. This represents a 34.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,035,083 shares of company stock valued at $46,889,370 in the last three months. 15.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INOD has been the topic of several research reports. BWS Financial upped their price objective on 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 set a $45.00 price objective on shares of Innodata in a research note on Friday, December 13th. Craig Hallum assumed coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price objective for the company. Wedbush initiated coverage on shares of Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 target price on the stock. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

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.