Stewart R. Massey Sells 50,000 Shares of Innodata Inc. (NASDAQ:INOD) Stock

Innodata Inc. (NASDAQ:INOD) Director Stewart R. Massey sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total value of $2,027,500.00. Following the completion of the sale, the director now directly owns 25,262 shares of the company’s stock, valued at $1,024,374.10. This represents a 66.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Innodata Stock Performance

NASDAQ:INOD opened at $36.75 on Friday. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $49.72. The business’s fifty day moving average is $20.30 and its 200 day moving average is $16.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 62.29 and a beta of 2.30.

Analyst Ratings Changes

Several research analysts have recently weighed in on INOD shares. BWS Financial increased their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum began coverage on shares of Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price for the company. Finally, StockNews.com raised shares of Innodata from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Institutional Investors Weigh In On Innodata

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Innodata by 2.0% in the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock valued at $9,639,000 after acquiring an additional 28,173 shares during the period. Rathbones Group PLC purchased a new stake in Innodata in the 2nd quarter worth approximately $916,000. Price T Rowe Associates Inc. MD boosted its holdings in Innodata by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares during the period. Deerfield Management Company L.P. Series C grew its position 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 valued at $1,658,000 after purchasing an additional 84,509 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Innodata by 11.2% in the first quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after purchasing an additional 2,230 shares during the period. 30.75% of the stock is currently owned by institutional investors.

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.