Innodata Inc. (NASDAQ:INOD) Shares Purchased by Barclays PLC

Barclays PLC grew its position in shares of Innodata Inc. (NASDAQ:INOD) by 324.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,557 shares of the technology company’s stock after acquiring an additional 29,470 shares during the quarter. Barclays PLC owned about 0.13% of Innodata worth $647,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of INOD. Deerfield Management Company L.P. Series C grew its holdings in shares of Innodata by 309.5% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 111,814 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 84,509 shares during the period. Rathbones Group PLC purchased a new stake in Innodata during the second quarter worth approximately $916,000. Marshall Wace LLP increased its position in shares of Innodata by 83.9% in the second quarter. Marshall Wace LLP now owns 85,395 shares of the technology company’s stock worth $1,266,000 after acquiring an additional 38,954 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Innodata in the 2nd quarter valued at $381,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Innodata in the 3rd quarter valued at $330,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jack Abuhoff sold 225,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total value of $10,435,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,035,083 shares of company stock valued at $46,889,370. 15.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on INOD. Wedbush started coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price target for the company. BWS Financial upped their target price on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Chardan Capital reiterated a “buy” rating and set a $45.00 target price on shares of Innodata in a report on Friday, December 13th. Craig Hallum initiated coverage on Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Finally, StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Innodata Price Performance

INOD stock opened at $39.52 on Thursday. The stock’s 50 day moving average is $37.01 and its two-hundred day moving average is $23.70. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $55.17. The company has a market capitalization of $1.15 billion, a PE ratio of 66.98 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 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.