Wellington Management Group LLP Sells 427,071 Shares of Innodata Inc. $INOD

Key Points

• Wellington Management reduced its Innodata stake by 66.4%, selling 427,071 shares and retaining 216,166 shares worth approximately $16.3 million. Institutional investors collectively own 30.75% of the company.
• Innodata insiders sold 304,059 shares valued at $32.5 million over the past 90 days, including 200,000 shares sold by CEO Jack Abuhoff and 10,000 shares sold by Director Louise Forlenza.
• Despite the selling, Innodata reported strong quarterly results, with $0.41 in EPS versus a $0.21 estimate and revenue up 57.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $130, compared with a recent share price of $55.66.

Wellington Management Group LLP reduced its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 66.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,166 shares of the technology company's stock after selling 427,071 shares during the quarter. Wellington Management Group LLP owned about 0.63% of Innodata worth $16,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INOD. Geode Capital Management LLC boosted its stake in Innodata by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 752,795 shares of the technology company's stock worth $38,362,000 after acquiring an additional 2,407 shares during the last quarter. State Street Corp grew its holdings in Innodata by 2.8% during the fourth quarter. State Street Corp now owns 711,180 shares of the technology company's stock valued at $36,235,000 after purchasing an additional 19,484 shares during the period. Dimensional Fund Advisors LP increased its stake in Innodata by 32.2% in the first quarter. Dimensional Fund Advisors LP now owns 583,239 shares of the technology company's stock valued at $22,517,000 after purchasing an additional 142,192 shares in the last quarter. Janus Henderson Group PLC increased its stake in Innodata by 13.8% in the first quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company's stock valued at $20,315,000 after purchasing an additional 63,779 shares in the last quarter. Finally, Next Century Growth Investors LLC raised its holdings in Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company's stock worth $18,639,000 after purchasing an additional 189,488 shares during the period. 30.75% of the stock is owned by institutional investors.

Insider Activity at Innodata

In other 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 transaction of $22,040,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,340,456 shares of the company's stock, valued at $147,718,251.20. This trade represents a 12.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Louise Forlenza sold 10,000 shares of Innodata stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $55.01, for a total transaction of $550,100.00. Following the completion of the sale, the director owned 5,424 shares in the company, valued at $298,374.24. This trade represents a 64.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 304,059 shares of company stock worth $32,532,136 in the last 90 days. Company insiders own 11.80% of the company's stock.

Innodata Stock Performance

INOD opened at $55.66 on Monday. The business's 50-day moving average price is $63.05 and its two-hundred day moving average price is $63.69. Innodata Inc. has a 1 year low of $34.23 and a 1 year high of $125.14. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 42.17 and a beta of 2.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.73 and a quick ratio of 1.73.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.20. The company had revenue of $92.14 million during the quarter, compared to analysts' expectations of $86.31 million. Innodata had a return on equity of 37.79% and a net margin of 14.66%.Innodata's revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Equities analysts expect that Innodata Inc. will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INOD. Zacks Research cut shares of Innodata from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Innodata from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. BWS Financial reaffirmed a "top pick" rating and set a $140.00 price objective on shares of Innodata in a research note on Friday, August 7th. Finally, Wedbush lifted their target price on Innodata from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

Innodata 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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