Key Points
- Innodata COO Ashok Mishra sold 38,666 shares on June 2 at an average price of $114.34, for proceeds of about $4.42 million. After the sale, he still owned 83,179 shares, reducing his stake by 31.73%.
- This follows a much larger insider sale by Mishra on May 12, when he sold 242,901 shares for about $21.9 million.
- Innodata has been posting strong operating results, with quarterly earnings of $0.42 per share and revenue of $90.1 million, both beating estimates. The company also reported 54.5% year-over-year revenue growth, while analysts currently have a “Moderate Buy” consensus with a $105 price target.
Innodata Inc. (NASDAQ:INOD - Get Free Report) COO Ashok Mishra sold 38,666 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $114.34, for a total transaction of $4,421,070.44. Following the sale, the chief operating officer owned 83,179 shares of the company's stock, valued at approximately $9,510,686.86. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Ashok Mishra also recently made the following trade(s):
- On Tuesday, May 12th, Ashok Mishra sold 242,901 shares of Innodata stock. The shares were sold at an average price of $90.15, for a total transaction of $21,897,525.15.
Innodata Stock Down 5.2%
NASDAQ:INOD opened at $108.27 on Thursday. The firm has a market cap of $3.54 billion, a P/E ratio of 97.54 and a beta of 2.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. Innodata Inc. has a fifty-two week low of $34.23 and a fifty-two week high of $118.45. The firm has a 50-day simple moving average of $62.81 and a two-hundred day simple moving average of $55.98.
Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.34. The business had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. Innodata's revenue was up 54.5% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. Analysts predict that Innodata Inc. will post 0.99 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently issued reports on INOD shares. Wall Street Zen raised shares of Innodata from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings downgraded shares of Innodata from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 19th. Wedbush raised their price target on shares of Innodata from $80.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Finally, BWS Financial reaffirmed a "top pick" rating and set a $110.00 price target on shares of Innodata in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.00.
Check Out Our Latest Report on INOD
Hedge Funds Weigh In On Innodata
A number of institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its holdings in shares of Innodata by 7.7% in the first quarter. NewEdge Advisors LLC now owns 14,292 shares of the technology company's stock worth $552,000 after buying an additional 1,023 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Innodata by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 7,336 shares of the technology company's stock worth $283,000 after buying an additional 248 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Innodata by 156.3% in the first quarter. Bank of America Corp DE now owns 102,268 shares of the technology company's stock worth $3,950,000 after buying an additional 62,361 shares during the last quarter. H&H International Investment LLC purchased a new position in shares of Innodata in the first quarter worth approximately $386,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Innodata by 13.8% in the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company's stock worth $20,315,000 after buying an additional 63,779 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.
About Innodata
(
Get Free Report)
Innodata Inc (NASDAQ: INOD) is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata's platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.
The firm's offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.
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