Insider Selling: Innodata (NASDAQ:INOD) CEO Sells 200,000 Shares of Stock

Key Points

• Innodata CEO Jack Abuhoff sold 200,000 shares on June 16 at an average price of $110.20, raising about $22.0 million and trimming his stake by 12.98% to 1.34 million shares.
• The CEO has been actively selling shares recently, with multiple additional transactions in mid-May through mid-June totaling hundreds of thousands of shares at prices mostly in the low-$90s to low-$100s.
• Innodata shares rose sharply despite the insider selling, climbing 7.8% to $107.42, after the company reported strong Q1 results that beat earnings and revenue estimates and showed 54.5% year-over-year revenue growth.

Innodata Inc. (NASDAQ:INOD - Get Free Report) CEO Jack Abuhoff sold 200,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $110.20, for a total value of $22,040,000.00. Following the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at approximately $147,718,251.20. This trade represents a 12.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jack Abuhoff also recently made the following trade(s):

• On Monday, June 15th, Jack Abuhoff sold 94,059 shares of Innodata stock. The shares were sold at an average price of $105.70, for a total value of $9,942,036.30.
• On Friday, May 29th, Jack Abuhoff sold 105,586 shares of Innodata stock. The stock was sold at an average price of $103.50, for a total value of $10,928,151.00.
• On Friday, May 22nd, Jack Abuhoff sold 38,056 shares of Innodata stock. The stock was sold at an average price of $100.39, for a total value of $3,820,441.84.
• On Wednesday, May 20th, Jack Abuhoff sold 150,000 shares of Innodata stock. The stock was sold at an average price of $93.46, for a total transaction of $14,019,000.00.
• On Tuesday, May 19th, Jack Abuhoff sold 2,800 shares of Innodata stock. The stock was sold at an average price of $93.03, for a total transaction of $260,484.00.
• On Monday, May 18th, Jack Abuhoff sold 150,000 shares of Innodata stock. The stock was sold at an average price of $94.39, for a total transaction of $14,158,500.00.
• On Friday, May 15th, Jack Abuhoff sold 100,000 shares of Innodata stock. The stock was sold at an average price of $95.78, for a total transaction of $9,578,000.00.
• On Thursday, May 14th, Jack Abuhoff sold 76,991 shares of Innodata stock. The stock was sold at an average price of $95.58, for a total transaction of $7,358,799.78.
• On Tuesday, May 12th, Jack Abuhoff sold 71,699 shares of Innodata stock. The shares were sold at an average price of $95.60, for a total value of $6,854,424.40.
• On Wednesday, May 13th, Jack Abuhoff sold 94,460 shares of Innodata stock. The shares were sold at an average price of $91.19, for a total transaction of $8,613,807.40.

Innodata Stock Up 7.8%

Shares of INOD traded up $7.76 on Tuesday, hitting $107.42. 2,292,299 shares of the stock traded hands, compared to its average volume of 1,669,499. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.49 and a current ratio of 2.49. Innodata Inc. has a one year low of $34.23 and a one year high of $125.14. The company has a market capitalization of $3.51 billion, a PE ratio of 96.77 and a beta of 2.83. The business has a 50 day simple moving average of $74.46 and a 200 day simple moving average of $59.08.

Innodata (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.34. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The business had revenue of $90.10 million for the quarter, compared to analysts' expectations of $76.47 million. During the same quarter last year, the company posted $0.22 EPS. The company's revenue was up 54.5% compared to the same quarter last year. As a group, equities analysts forecast that Innodata Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INOD shares. BWS Financial reaffirmed a "buy" rating on shares of Innodata in a research report on Monday. Weiss Ratings raised shares of Innodata from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 3rd. Wedbush upped their price target on shares of Innodata from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. Finally, Wall Street Zen raised shares of Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Innodata has an average rating of "Moderate Buy" and a consensus target price of $130.00.

Hedge Funds Weigh In On Innodata

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Innodata by 0.8% in the third quarter. Vanguard Group Inc. now owns 1,840,491 shares of the technology company's stock worth $141,847,000 after buying an additional 15,036 shares during the period. Geode Capital Management LLC raised its position in shares of Innodata by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 752,795 shares of the technology company's stock valued at $38,362,000 after purchasing an additional 2,407 shares during the period. State Street Corp raised its position in shares of Innodata by 2.8% in 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 raised its position in shares of 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 during the period. Finally, Wellington Management Group LLP grew its stake in shares of Innodata by 8.1% in the fourth quarter. Wellington Management Group LLP now owns 571,987 shares of the technology company's stock worth $29,143,000 after acquiring an additional 42,847 shares during the last quarter. Institutional investors own 30.75% of the company's stock.

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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