Napa Wealth Management Makes New Investment in Innodata Inc. $INOD

Key Points

• Napa Wealth Management has acquired a new stake in Innodata Inc. valued at approximately $372,000, by purchasing 10,365 shares.
• Institutional investors collectively own 30.75% of Innodata's stock, with several firms increasing their positions significantly in the last quarter.
• Innodata reported earnings of $0.20 per share, exceeding estimates, with revenue growth of 79.7% year-over-year, reaching $58.39 million.

Napa Wealth Management bought a new position in Innodata Inc. (NASDAQ:INOD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,365 shares of the technology company's stock, valued at approximately $372,000.

Several other hedge funds also recently bought and sold shares of the company. AlphaQuest LLC increased its position in Innodata by 137.2% in the 1st quarter. AlphaQuest LLC now owns 2,443 shares of the technology company's stock worth $88,000 after purchasing an additional 1,413 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Innodata by 177.8% during the 1st quarter. Wellington Management Group LLP now owns 793,041 shares of the technology company's stock valued at $28,470,000 after acquiring an additional 507,540 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Innodata by 5.3% during the 1st quarter. Northern Trust Corp now owns 266,206 shares of the technology company's stock valued at $9,557,000 after acquiring an additional 13,453 shares during the last quarter. Boston Family Office LLC acquired a new position in shares of Innodata during the 1st quarter valued at about $589,000. Finally, American Century Companies Inc. increased its holdings in shares of Innodata by 36.2% during the 1st quarter. American Century Companies Inc. now owns 63,088 shares of the technology company's stock valued at $2,265,000 after acquiring an additional 16,781 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Innodata Stock Performance

NASDAQ:INOD traded up $0.82 during mid-day trading on Wednesday, hitting $39.07. 1,019,890 shares of the company's stock traded hands, compared to its average volume of 2,167,893. The firm has a 50 day moving average of $46.23 and a two-hundred day moving average of $43.40. Innodata Inc. has a 12 month low of $13.02 and a 12 month high of $71.00. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 31.51 and a beta of 2.75. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.09.

Innodata (NASDAQ:INOD - Get Free Report) last announced its earnings results 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. Innodata had a return on equity of 54.27% and a net margin of 18.71%.The firm had revenue of $58.39 million during the quarter, compared to the consensus estimate of $56.35 million. The business's revenue was up 79.7% on a year-over-year basis. On average, equities analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BWS Financial reissued a "buy" rating and set a $74.00 price objective on shares of Innodata in a report on Monday, June 16th. Wedbush lowered their price objective on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $55.00.

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.