Principal Financial Group Inc. Has $806,000 Position in Innodata Inc. (NASDAQ:INOD)

Principal Financial Group Inc. boosted its stake in shares of Innodata Inc. (NASDAQ:INOD) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,386 shares of the technology company’s stock after purchasing an additional 1,828 shares during the period. Principal Financial Group Inc. owned 0.07% of Innodata worth $806,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Innodata during the 4th quarter worth about $29,000. Calamos Advisors LLC bought a new stake in Innodata in the fourth quarter valued at approximately $283,000. Jennison Associates LLC bought a new stake in Innodata in the fourth quarter valued at approximately $402,000. Spire Wealth Management acquired a new stake in shares of Innodata in the fourth quarter valued at approximately $166,000. Finally, Precision Wealth Strategies LLC bought a new stake in Innodata in the 4th quarter valued at $466,000. 30.75% of the stock is currently owned by institutional investors.

Innodata Stock Down 13.9 %

Shares of NASDAQ INOD opened at $46.31 on Friday. The stock’s fifty day moving average is $44.02 and its 200 day moving average is $32.47. The stock has a market capitalization of $1.45 billion, a P/E ratio of 54.48 and a beta of 2.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata Inc. has a 52 week low of $5.46 and a 52 week high of $71.00.

Innodata (NASDAQ:INOD) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.20. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Sell-side analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the transaction, the director now directly owns 12,417 shares of the company’s stock, valued at $799,654.80. The trade was a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the transaction, the chief financial officer now owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,634 shares of company stock valued at $22,639,902. 15.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INOD. Chardan Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Innodata in a research report on Friday, December 13th. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They set an “outperform” rating and a $48.00 price target for the company. BWS Financial boosted their price target on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Maxim Group boosted their target price on shares of Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

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.