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

Innodata Inc. (NASDAQ:INOD)’s share price gapped down prior to trading on Tuesday following insider selling activity. 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 trading hands.

Specifically, CEO Jack Abuhoff sold 187,099 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,188,358 shares in the company, valued at approximately $54,747,653.06. This represents a 13.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Louise C. Forlenza sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 8,278 shares of the company’s stock, valued at approximately $373,337.80. This represents a 32.58 % decrease in their position. The disclosure for this sale can be found here. In other Innodata news, CFO Marissa B. Espineli sold 38,333 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was 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 available at this link.

Wall Street Analyst Weigh In

INOD has been the subject of a number of recent research reports. 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 report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price objective for the company. Finally, BWS Financial raised 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. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Innodata Trading Down 11.1 %

The business has a 50 day moving average of $24.35 and a 200 day moving average of $18.79. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 68.42 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.

Hedge Funds Weigh In On Innodata

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Innodata during the 2nd quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new position in shares of Innodata during the third quarter worth $206,000. BNP Paribas Financial Markets grew its holdings in shares of Innodata by 38.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after buying an additional 3,739 shares during the period. Private Advisor Group LLC increased its position in shares of 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 buying an additional 2,207 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in 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 worth $102,000 after buying an additional 982 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.