18,558 Shares in Innodata Inc. (NASDAQ:INOD) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new position in shares of Innodata Inc. (NASDAQ:INOD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,558 shares of the technology company’s stock, valued at approximately $311,000. Principal Financial Group Inc. owned approximately 0.06% of Innodata as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INOD. Vanguard Group Inc. increased its position in shares of Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after purchasing an additional 28,173 shares during the last quarter. Rathbones Group PLC bought a new position in shares of Innodata during the 2nd quarter valued at about $916,000. Price T Rowe Associates Inc. MD increased its position in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares during the last quarter. Deerfield Management Company L.P. Series C increased its position in shares of Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 84,509 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter valued at about $8,142,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Craig Hallum began coverage on Innodata in a research report on Tuesday, September 17th. They set 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 research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Stock Down 3.2 %

INOD stock opened at $44.77 on Monday. Innodata Inc. has a 1-year low of $5.46 and a 1-year high of $49.72. The business has a fifty day moving average price of $23.23 and a 200-day moving average price of $18.29. 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 stock has a market capitalization of $1.30 billion, a P/E ratio of 75.88 and a beta of 2.30.

Insider Buying and Selling at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ashok Mishra sold 92,726 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.16, for a total value of $4,002,054.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 475,277 shares of company stock valued at $21,535,466. 15.23% of the stock is currently owned by corporate insiders.

Innodata Company 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.