ProShare Advisors LLC Buys Shares of 7,617 Innodata Inc. (NASDAQ:INOD)

ProShare Advisors LLC purchased a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,617 shares of the technology company's stock, valued at approximately $301,000.

A number of other institutional investors have also made changes to their positions in INOD. Allworth Financial LP acquired a new position in shares of Innodata in the fourth quarter valued at approximately $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Innodata during the 4th quarter worth approximately $36,000. AlphaQuest LLC raised its position in Innodata by 79.4% in the 4th quarter. AlphaQuest LLC now owns 1,030 shares of the technology company's stock valued at $41,000 after purchasing an additional 456 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Innodata in the 4th quarter valued at $150,000. Finally, Spire Wealth Management purchased a new stake in Innodata in the 4th quarter valued at $166,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on INOD shares. Wedbush dropped their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Stock Performance

INOD traded up $0.75 during trading on Friday, hitting $38.78. The stock had a trading volume of 4,327,872 shares, compared to its average volume of 1,377,106. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84. Innodata Inc. has a twelve month low of $12.67 and a twelve month high of $71.00. The firm has a market capitalization of $1.23 billion, a P/E ratio of 45.62 and a beta of 2.75. The company's 50-day moving average price is $36.33 and its 200 day moving average price is $40.73.

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

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.