Innodata (NASDAQ:INOD) Director Louise Forlenza Sells 10,000 Shares

Key Points

• Director Louise Forlenza sold 10,000 Innodata shares at an average price of $53.54, generating $535,400. Her remaining stake fell by 64.83% to 5,424 shares.
• Innodata shares declined 1.6% to $54.37 during Tuesday trading, well below their 50-day and 200-day moving averages.
• The company recently exceeded quarterly expectations, reporting $0.41 in earnings per share and $92.14 million in revenue, with revenue up 57.8% year over year. Analysts maintain a “Moderate Buy” consensus and an average $130 price target.

Innodata Inc. (NASDAQ:INOD - Get Free Report) Director Louise Forlenza sold 10,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $53.54, for a total value of $535,400.00. Following the completion of the transaction, the director directly owned 5,424 shares of the company's stock, valued at $290,400.96. This represents a 64.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Innodata Stock Down 1.6%

Shares of NASDAQ INOD traded down $0.87 during mid-day trading on Tuesday, hitting $54.37. 1,108,627 shares of the stock traded hands, compared to its average volume of 1,472,554. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 41.19 and a beta of 2.88. The stock has a fifty day moving average price of $60.90 and a 200-day moving average price of $64.13. Innodata Inc. has a 52 week low of $34.23 and a 52 week high of $125.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.73.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Innodata during the second quarter valued at approximately $151,000. Baird Financial Group Inc. purchased a new position in Innodata in the 2nd quarter worth approximately $282,000. Nykredit A S bought a new position in Innodata in the 2nd quarter valued at approximately $88,000. Allianz Asset Management GmbH bought a new position in Innodata in the 2nd quarter valued at approximately $1,396,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Innodata during the 2nd quarter valued at $412,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

About Innodata

Innodata Inc is a global data engineering and artificial intelligence services company that helps organizations prepare, manage and use data for digital applications. Its services support the development and deployment of machine learning and generative artificial intelligence systems, including data collection, annotation, labeling, curation, evaluation and model testing.

The company also provides content transformation and information management services. These offerings can include converting and structuring complex content, improving data quality, automating business processes and developing customized data workflows.

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