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

by · The Cerbat Gem

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

Innodata Stock Down 1.6 %

Shares of INOD stock traded down $0.73 on Friday, hitting $45.50. The company’s stock had a trading volume of 958,492 shares, compared to its average volume of 724,685. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 78.63 and a beta of 2.30. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $49.72. The firm’s fifty day moving average price is $22.64 and its 200-day moving average price is $17.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Craig Hallum began coverage on shares of Innodata in a report on Tuesday, September 17th. They issued a “buy” rating and a $23.00 price target for the company. Finally, BWS Financial lifted their price objective on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Innodata presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

View Our Latest Report on INOD

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Innodata by 11.2% in the 1st quarter. BNP Paribas Financial Markets now owns 22,208 shares of the technology company’s stock worth $147,000 after acquiring an additional 2,230 shares during the period. Vanguard Group Inc. boosted its stake in Innodata by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after buying an additional 28,173 shares in the last quarter. Elkhorn Partners Limited Partnership bought a new stake in Innodata in the 1st quarter valued at $94,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 buying an additional 982 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Innodata during the 1st quarter worth about $8,142,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Innodata Company Profile

(Get Free Report)

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.

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