Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff Sells 225,000 Shares

Innodata Inc. (NASDAQ:INOD) CEO Jack Abuhoff sold 225,000 shares of Innodata stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $46.38, for a total transaction of $10,435,500.00. Following the transaction, the chief executive officer now directly owns 1,188,358 shares of the company’s stock, valued at approximately $55,116,044.04. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Innodata Stock Performance

NASDAQ INOD traded up $1.94 during trading hours on Thursday, hitting $46.39. The company’s stock had a trading volume of 2,051,013 shares, compared to its average volume of 723,637. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. Innodata Inc. has a 12 month low of $5.46 and a 12 month high of $49.72. The company has a market cap of $1.35 billion, a P/E ratio of 78.36 and a beta of 2.30. The company’s 50 day simple moving average is $22.03 and its two-hundred day simple moving average is $17.75.

Analyst Ratings Changes

A number of equities analysts have weighed in on INOD shares. BWS Financial raised their target price on shares of Innodata from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, Craig Hallum started coverage on Innodata in a research note on Tuesday, September 17th. They issued a “buy” rating and a $23.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Institutional Trading of Innodata

A number of hedge funds have recently bought and sold shares of INOD. Los Angeles Capital Management LLC purchased a new position in shares of Innodata during the 3rd quarter valued at about $330,000. Vanguard Group Inc. increased its stake 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 worth $9,639,000 after purchasing an additional 28,173 shares in the last quarter. Rathbones Group PLC bought a new stake in shares of Innodata during the 2nd quarter valued at $916,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Innodata by 6.8% during 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 buying an additional 982 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its holdings in Innodata by 309.5% in 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 buying an additional 84,509 shares during the period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

About Innodata

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.