Innodata (NASDAQ:INOD) COO Ashok Mishra Sells 200,000 Shares of Stock

Innodata Inc. (NASDAQ:INOD) COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total value of $12,278,000.00. Following the sale, the chief operating officer owned 60,000 shares of the company’s stock, valued at approximately $3,683,400. This trade represents a 76.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ashok Mishra also recently made the following trade(s):

• On Tuesday, November 11th, Ashok Mishra sold 28,094 shares of Innodata stock. The stock was sold at an average price of $62.52, for a total value of $1,756,436.88.

Innodata Trading Down 0.8%

Shares of INOD opened at $61.95 on Thursday. Innodata Inc. has a 1-year low of $26.41 and a 1-year high of $93.85. The company has a market capitalization of $1.97 billion, a P/E ratio of 49.96 and a beta of 2.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.87 and a quick ratio of 2.87. The firm’s 50 day simple moving average is $71.87 and its 200 day simple moving average is $53.18.

Innodata (NASDAQ:INOD) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $62.55 million during the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a net margin of 18.71% and a return on equity of 54.27%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INOD. Farther Finance Advisors LLC purchased a new stake in Innodata during the 2nd quarter valued at about $36,000. Global Retirement Partners LLC purchased a new position in Innodata in the 3rd quarter worth approximately $50,000. Toth Financial Advisory Corp lifted its position in Innodata by 40.2% in the second quarter. Toth Financial Advisory Corp now owns 1,150 shares of the technology company’s stock valued at $59,000 after purchasing an additional 330 shares during the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Innodata during the third quarter valued at approximately $60,000. Finally, Hollencrest Capital Management bought a new position in shares of Innodata in the third quarter worth approximately $60,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Innodata from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Wedbush increased their price objective on Innodata from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Zacks Research raised Innodata from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $110.00 target price on shares of Innodata in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $80.00.

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.