Innodata (NASDAQ:INOD) Stock Price Down 3.9% on Insider Selling

Innodata Inc. (NASDAQ:INOD)’s stock price fell 3.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $43.55 and last traded at $43.87. 222,321 shares traded hands during trading, a decline of 71% from the average session volume of 765,420 shares. The stock had previously closed at $45.66.

Specifically, Director Nauman Sabeeh Toor sold 200,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $45.37, for a total value of $9,074,000.00. Following the completion of the transaction, the director now owns 319,401 shares of the company’s stock, valued at approximately $14,491,223.37. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 58,500 shares of Innodata stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $44.97, for a total value of $2,630,745.00. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INOD shares. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Craig Hallum started coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, BWS Financial lifted their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Innodata presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Innodata Price Performance

The stock’s 50 day moving average price is $28.05 and its 200-day moving average price is $20.14. 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 stock has a market capitalization of $1.31 billion, a PE ratio of 76.49 and a beta of 2.56.

Institutional Investors Weigh In On Innodata

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Innodata by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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. Bank of New York Mellon Corp lifted its stake in Innodata by 19.1% in the second quarter. Bank of New York Mellon Corp now owns 78,057 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 12,515 shares during the period. nVerses Capital LLC purchased a new stake in Innodata in the second quarter worth about $27,000. Finally, Rhumbline Advisers grew its holdings in Innodata by 19.2% during the 2nd quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock worth $559,000 after acquiring an additional 6,066 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.