Innodata Inc. (NASDAQ:INOD) Shares Acquired by State Street Corp

State Street Corp lifted its stake in shares of Innodata Inc. (NASDAQ:INOD) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,301 shares of the technology company’s stock after acquiring an additional 9,408 shares during the quarter. State Street Corp owned 1.85% of Innodata worth $9,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of INOD. Point72 Asset Management L.P. purchased a new stake in Innodata during the 3rd quarter worth about $206,000. Centiva Capital LP acquired a new position in shares of Innodata during the third quarter worth about $318,000. BNP Paribas Financial Markets increased its stake in shares of Innodata by 38.5% during the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after buying an additional 3,739 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Innodata by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock valued at $1,291,000 after acquiring an additional 1,843 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Innodata in the third quarter worth approximately $330,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $46.38, for a total value of $10,435,500.00. Following the transaction, the chief executive officer now owns 1,188,358 shares in the company, valued at $55,116,044.04. The trade was a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the sale, the director now directly owns 8,278 shares of the company’s stock, valued at $373,337.80. The trade was a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BWS Financial increased their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Chardan Capital reissued a “buy” rating and issued a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Craig Hallum began coverage on Innodata in a report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Innodata Stock Up 7.3 %

Shares of NASDAQ INOD opened at $46.23 on Friday. The business has a 50-day moving average price of $34.66 and a 200 day moving average price of $22.76. The stock has a market cap of $1.34 billion, a PE ratio of 78.36 and a beta of 2.56. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $55.17.

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.