Principal Financial Group Inc. Has $3.65 Million Stock Holdings in Innodata Inc. $INOD

Key Points

• Principal Financial Group cut its Innodata stake by 29.9% in the first quarter, selling 40,419 shares and retaining 94,644 shares worth approximately $3.65 million. Institutional investors and hedge funds collectively own 30.75% of INOD.
• Analysts remain bullish on Innodata: the stock has an average “Strong Buy” rating and a consensus price target of $130, supported by several recent rating upgrades and a Wedbush target increase to $120.
• Innodata reported quarterly EPS of $0.42, beating estimates of $0.08, while revenue rose 54.5% year over year to $90.1 million. However, company insiders sold 1.47 million shares worth nearly $144 million during the last quarter.

Principal Financial Group Inc. lowered its position in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 29.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,644 shares of the technology company's stock after selling 40,419 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Innodata worth $3,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INOD. RFG Advisory LLC bought a new stake in Innodata in the 4th quarter valued at about $5,750,000. Bleakley Financial Group LLC acquired a new stake in shares of Innodata in the fourth quarter valued at approximately $900,000. Next Century Growth Investors LLC boosted its stake in shares of Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company's stock valued at $18,639,000 after buying an additional 189,488 shares during the period. UBS Group AG boosted its stake in shares of Innodata by 37.1% in the fourth quarter. UBS Group AG now owns 350,928 shares of the technology company's stock valued at $17,880,000 after buying an additional 95,002 shares during the period. Finally, Meridian Wealth Management LLC grew its position in Innodata by 237.6% during the fourth quarter. Meridian Wealth Management LLC now owns 41,927 shares of the technology company's stock worth $2,136,000 after buying an additional 29,509 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INOD has been the subject of several analyst reports. Weiss Ratings raised Innodata from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Zacks Research raised Innodata from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. BWS Financial reiterated a "buy" rating on shares of Innodata in a research note on Monday, June 15th. Finally, Wedbush raised their target price on shares of Innodata from $100.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Innodata currently has an average rating of "Strong Buy" and a consensus price target of $130.00.

Insider Activity at Innodata

In other Innodata news, CEO Jack Abuhoff sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00. Following the sale, the chief executive officer owned 1,340,456 shares in the company, valued at $147,718,251.20. This trade represents a 12.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marissa B. Espineli sold 19,667 shares of the business's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $105.88, for a total transaction of $2,082,341.96. Following the sale, the chief financial officer directly owned 28,014 shares in the company, valued at approximately $2,966,122.32. The trade was a 41.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,472,885 shares of company stock valued at $143,998,492. 11.80% of the stock is currently owned by company insiders.

Innodata Price Performance

Shares of INOD stock opened at $55.40 on Thursday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. Innodata Inc. has a twelve month low of $34.23 and a twelve month high of $125.14. The company has a market cap of $1.81 billion, a P/E ratio of 49.91 and a beta of 2.89. The business has a fifty day simple moving average of $83.27 and a 200 day simple moving average of $62.60.

Innodata (NASDAQ:INOD - Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.34. The firm had revenue of $90.10 million for the quarter, compared to analysts' expectations of $76.47 million. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business's revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. On average, sell-side analysts forecast that Innodata Inc. will post 1.14 EPS for the current fiscal year.

Innodata Company Profile

Innodata Inc NASDAQ: INOD is a digital services and technology company that specializes in data engineering and artificial intelligence solutions. Founded in 1988 and headquartered in East Brunswick, New Jersey, the company provides structured content and digital transformation services to publishers, media companies, legal and compliance organizations, and other information-intensive industries. Innodata's platform enables clients to convert unstructured text, images and multimedia into high‐quality, machine‐readable formats that support search, analytics and AI model training.

The firm's offerings include content enrichment, metadata management, taxonomy development, digital asset management and data annotation services.

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