Stifel Financial Corp Sells 7,200 Shares of Innodata Inc. (NASDAQ:INOD)

Stifel Financial Corp cut its stake in shares of Innodata Inc. (NASDAQ:INOD) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,895 shares of the technology company’s stock after selling 7,200 shares during the quarter. Stifel Financial Corp owned 0.24% of Innodata worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in shares of Innodata during the third quarter worth $311,000. Los Angeles Capital Management LLC acquired a new stake in shares of Innodata during the 3rd quarter valued at $330,000. Rathbones Group PLC bought a new stake in Innodata during the 2nd quarter worth $916,000. Centiva Capital LP acquired a new position in Innodata in the 3rd quarter worth about $318,000. Finally, BNP Paribas Financial Markets raised its position in Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Innodata

In related news, Director Stewart R. Massey sold 50,000 shares of the business’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 transaction, the director now owns 25,262 shares in the company, valued at $1,024,374.10. The trade was a 66.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louise C. Forlenza sold 4,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 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. In the last ninety days, insiders sold 924,876 shares of company stock valued at $42,040,262. Corporate insiders own 15.23% of the company’s stock.

Innodata Price Performance

INOD stock opened at $43.01 on Monday. 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 firm has a market cap of $1.25 billion, a price-to-earnings ratio of 72.90 and a beta of 2.55. The company’s fifty day simple moving average is $33.10 and its 200 day simple moving average is $22.22. Innodata Inc. has a 12-month low of $5.46 and a 12-month high of $55.17.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INOD shares. Wedbush assumed coverage on Innodata in a research note on Thursday. They issued an “outperform” rating and a $48.00 price objective for the company. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target for the company. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital reaffirmed a “buy” rating and set a $45.00 target price on shares of Innodata in a research report on Friday, December 13th. Finally, BWS Financial upped their price target on Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Innodata has an average rating of “Moderate Buy” and a consensus price target of $38.20.

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.