Insider Selling: Innodata (NASDAQ:INOD) CEO Sells 94,059 Shares of Stock

Key Points

• Innodata CEO Jack Abuhoff sold 94,059 shares on June 15 at an average price of $105.70, generating about $9.94 million. After the sale, he still directly owned 1,340,456 shares worth roughly $141.7 million.
• The CEO has been actively selling shares recently, with multiple additional transactions disclosed, including a June 16 sale of 200,000 shares for $22.04 million and several large May sales.
• Innodata shares were trading higher at $107.42, and the company recently posted strong quarterly results, beating EPS and revenue estimates with revenue up 54.5% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $130.00.

Innodata Inc. (NASDAQ:INOD - Get Free Report) CEO Jack Abuhoff sold 94,059 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $105.70, for a total value of $9,942,036.30. Following the transaction, the chief executive officer directly owned 1,340,456 shares of the company's stock, valued at approximately $141,686,199.20. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, June 16th, Jack Abuhoff sold 200,000 shares of Innodata stock. The shares were sold at an average price of $110.20, for a total value of $22,040,000.00.
• On Friday, May 29th, Jack Abuhoff sold 105,586 shares of Innodata stock. The shares were 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 shares were 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 shares were sold at an average price of $93.46, for a total value 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 shares were 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 stock was sold at an average price of $95.60, for a total transaction 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 Price Performance

Innodata stock traded up $7.76 during midday trading on Tuesday, reaching $107.42. 2,292,299 shares of the stock were exchanged, compared to its average volume of 1,669,499. Innodata Inc. has a 52 week low of $34.23 and a 52 week high of $125.14. The firm has a market cap of $3.51 billion, a PE ratio of 96.77 and a beta of 2.83. The company's fifty day moving average is $74.46 and its 200-day moving average is $59.08. 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 (NASDAQ:INOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.42 earnings per share (EPS) 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 company had revenue of $90.10 million during the quarter, compared to analyst estimates of $76.47 million. During the same period last year, the business earned $0.22 EPS. Innodata's quarterly revenue was up 54.5% compared to the same quarter last year. On average, sell-side analysts forecast that Innodata Inc. will post 1.14 EPS for the current year.

Institutional Trading of Innodata

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Innodata during the 4th quarter worth approximately $26,000. IFP Advisors Inc boosted its stake in Innodata by 1,567.5% during the third quarter. IFP Advisors Inc now owns 667 shares of the technology company's stock worth $51,000 after acquiring an additional 627 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Innodata during the third quarter valued at approximately $52,000. Farther Finance Advisors LLC increased its holdings in Innodata by 506.0% during the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company's stock valued at $41,000 after buying an additional 673 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Innodata during the fourth quarter worth $51,000. Institutional investors own 30.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INOD shares. Wall Street Zen upgraded Innodata from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Wedbush boosted their price objective on shares of Innodata from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. Weiss Ratings upgraded Innodata from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 3rd. Finally, BWS Financial reiterated a "buy" rating on shares of Innodata in a report on Monday. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $130.00.

About Innodata

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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