Goldman Sachs Group Inc. Sells 23,314 Shares of Innodata Inc. $INOD

Key Points

• Goldman Sachs Group Inc. reduced its stake in Innodata Inc. by 9.8%, selling 23,314 shares, and now holds approximately 213,960 shares valued at $7,681,000.
• Innodata reported **$0.20 earnings per share** for its last quarter, surpassing estimates of $0.11, with a revenue of **$58.39 million**, a significant 79.7% increase year-over-year.
• Analysts have given Innodata an average rating of **"Buy"** with a price target of **$55.00**, suggesting confidence in the stock's growth potential.

Goldman Sachs Group Inc. decreased its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,960 shares of the technology company's stock after selling 23,314 shares during the period. Goldman Sachs Group Inc. owned 0.67% of Innodata worth $7,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV bought a new position in shares of Innodata in the first quarter valued at $29,000. KBC Group NV bought a new position in shares of Innodata in the first quarter valued at $52,000. Motco bought a new position in shares of Innodata in the first quarter valued at $72,000. Twin Tree Management LP bought a new position in shares of Innodata in the first quarter valued at $83,000. Finally, AlphaQuest LLC increased its holdings in shares of Innodata by 137.2% in the first quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock valued at $88,000 after buying an additional 1,413 shares in the last quarter. Institutional investors own 30.75% of the company's stock.

Innodata Trading Up 1.6%

INOD traded up $1.10 during midday trading on Friday, reaching $71.01. 1,153,477 shares of the company were exchanged, compared to its average volume of 2,241,372. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.87 and a current ratio of 2.87. Innodata Inc. has a one year low of $13.02 and a one year high of $73.79. The stock has a market capitalization of $2.26 billion, a P/E ratio of 57.30 and a beta of 2.58. The stock's 50-day simple moving average is $46.80 and its 200 day simple moving average is $43.12.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The business's revenue for the quarter was up 79.7% compared to the same quarter last year. As a group, analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "buy" rating and issued a $74.00 price target on shares of Innodata in a report on Monday, June 16th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $63.00.

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.