Innodata Inc. (NASDAQ:INOD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Innodata Inc. (NASDAQ:INOD) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 613,748 shares of the technology company’s stock after buying an additional 13,609 shares during the quarter. Geode Capital Management LLC owned 2.12% of Innodata worth $10,294,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Innodata by 19.1% during 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 buying an additional 12,515 shares during the period. nVerses Capital LLC acquired a new position in Innodata during the 2nd quarter worth about $27,000. Rhumbline Advisers boosted its holdings in Innodata by 19.2% during the 2nd quarter. Rhumbline Advisers now owns 37,725 shares of the technology company’s stock valued at $559,000 after acquiring an additional 6,066 shares during the period. Rathbones Group PLC acquired a new position in Innodata in the 2nd quarter valued at about $916,000. Finally, XTX Topco Ltd purchased a new stake in Innodata during the second quarter worth about $285,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Innodata

In other news, Director Louise C. Forlenza sold 4,000 shares of the business’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 owns 8,278 shares in the company, valued at approximately $373,337.80. The trade was a 32.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stewart R. Massey sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now owns 25,262 shares of the company’s stock, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,035,083 shares of company stock worth $46,889,370 over the last ninety days. Corporate insiders own 15.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INOD shares. BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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 price target for the company. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price objective on the stock. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Chardan Capital restated a “buy” rating and set a $45.00 price target on shares of Innodata in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.20.

Innodata Price Performance

Shares of INOD opened at $39.52 on Thursday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 66.98 and a beta of 2.56. The firm’s fifty day simple moving average is $37.01 and its 200-day simple moving average is $23.70. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $55.17. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15.

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.