D. E. Shaw & Co. Inc. Acquires 892,663 Shares of Innodata Inc. (NASDAQ:INOD)

D. E. Shaw & Co. Inc. boosted its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 1,718.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 944,611 shares of the technology company's stock after purchasing an additional 892,663 shares during the quarter. D. E. Shaw & Co. Inc. owned about 3.26% of Innodata worth $37,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Innodata by 2.0% during the 4th quarter. Invesco Ltd. now owns 11,781 shares of the technology company's stock worth $466,000 after buying an additional 232 shares during the period. NewEdge Advisors LLC grew its position in shares of Innodata by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 11,300 shares of the technology company's stock valued at $447,000 after purchasing an additional 300 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Innodata by 79.4% during the fourth quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock worth $41,000 after purchasing an additional 456 shares during the period. Allworth Financial LP acquired a new stake in Innodata during the 4th quarter worth approximately $29,000. Finally, USA Financial Formulas bought a new stake in Innodata in the 4th quarter valued at $36,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INOD shares. BWS Financial lifted their target price on Innodata from $45.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday. Finally, Maxim Group raised their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Insider Buying and Selling

In other news, CFO Marissa B. Espineli sold 30,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the transaction, the chief financial officer now directly owns 18,000 shares in the company, valued at approximately $1,171,620. This represents a 62.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the sale, the chief operating officer now directly owns 60,000 shares in the company, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock worth $17,790,794 in the last ninety days. 15.23% of the stock is owned by insiders.

Innodata Trading Down 15.8 %

Shares of Innodata stock opened at $34.62 on Friday. The firm's 50-day moving average price is $38.73 and its two-hundred day moving average price is $39.73. Innodata Inc. has a 12-month low of $10.66 and a 12-month high of $71.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 40.73 and a beta of 2.75.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. Innodata's quarterly revenue was up 120.1% on a year-over-year basis. On average, analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Innodata 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.