Innodata Inc. $INOD Shares Sold by Goldman Sachs Group Inc.

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 stake in Innodata Inc. (NASDAQ:INOD - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,960 shares of the technology company's stock after selling 23,314 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.67% of Innodata worth $7,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INOD. Northern Trust Corp boosted its position in Innodata by 9.9% in the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock worth $9,989,000 after purchasing an additional 22,808 shares in the last quarter. Vanguard Group Inc. raised its holdings in Innodata by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 1,760,354 shares of the technology company's stock worth $63,197,000 after purchasing an additional 120,630 shares during the period. Boston Family Office LLC acquired a new stake in Innodata in the first quarter valued at approximately $589,000. Strong Tower Advisory Services acquired a new stake in Innodata in the first quarter valued at approximately $835,000. Finally, Palisades Investment Partners LLC raised its stake in shares of Innodata by 6.1% during the 4th quarter. Palisades Investment Partners LLC now owns 368,651 shares of the technology company's stock worth $14,569,000 after buying an additional 21,093 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Innodata Price Performance

Shares of NASDAQ:INOD traded up $1.06 during midday trading on Wednesday, hitting $66.95. The company's stock had a trading volume of 3,559,619 shares, compared to its average volume of 2,244,876. The company has a market cap of $2.13 billion, a P/E ratio of 53.99 and a beta of 2.58. Innodata Inc. has a 12-month low of $13.02 and a 12-month high of $71.00. The business's 50 day simple moving average is $46.16 and its 200 day simple moving average is $42.82. 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 (NASDAQ:INOD - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The business had revenue of $58.39 million for the quarter, compared to analysts' expectations of $56.35 million. The firm's quarterly revenue was up 79.7% on a year-over-year basis. On average, analysts forecast that Innodata Inc. will post 0.81 EPS for the current year.

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.