Jack Abuhoff Sells 105,586 Shares of Innodata (NASDAQ:INOD) Stock

Key Points

• CEO Jack Abuhoff sold 105,586 Innodata shares on May 29 at an average price of $103.50, bringing in about $10.9 million and reducing his ownership by 7.3%.
• The sale is part of a broader run of insider selling, with Abuhoff also disposing of several large blocks of shares in mid-May at prices mostly between about $91 and $100.
• Innodata reported strong quarterly results and the stock has surged: Q1 EPS of $0.42 beat estimates, revenue rose 54.5% year over year, and shares recently traded near a 52-week high at $115.32 amid upbeat analyst sentiment.

Innodata Inc. (NASDAQ:INOD - Get Free Report) CEO Jack Abuhoff sold 105,586 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $103.50, for a total value of $10,928,151.00. Following the transaction, the chief executive officer owned 1,340,456 shares in the company, valued at $138,737,196. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 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 value 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 value of $14,158,500.00.
• On Friday, May 15th, Jack Abuhoff sold 100,000 shares of Innodata stock. The shares were sold at an average price of $95.78, for a total value 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 value 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 value of $6,854,424.40.
• On Wednesday, May 13th, Jack Abuhoff sold 94,460 shares of Innodata stock. The stock was sold at an average price of $91.19, for a total transaction of $8,613,807.40.

Innodata Stock Performance

Innodata stock traded up $10.34 on Monday, hitting $115.32. The company's stock had a trading volume of 2,881,489 shares, compared to its average volume of 1,604,508. Innodata Inc. has a one year low of $34.23 and a one year high of $117.19. The firm has a market cap of $3.77 billion, a P/E ratio of 103.89 and a beta of 2.82. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $58.72 and a 200-day moving average price of $54.88.

Innodata (NASDAQ:INOD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.34. The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $76.47 million. Innodata had a net margin of 13.86% and a return on equity of 37.49%. The firm's revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. On average, equities analysts anticipate that Innodata Inc. will post 0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INOD. Wedbush lifted their price objective on Innodata from $80.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Weiss Ratings downgraded Innodata from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 19th. BWS Financial reaffirmed a "top pick" rating and issued a $110.00 price target on shares of Innodata in a research note on Friday, April 10th. Finally, Wall Street Zen upgraded Innodata from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned 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 $105.00.

Institutional Trading of Innodata

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new stake in Innodata during the 4th quarter worth about $26,000. Farther Finance Advisors LLC raised its stake in shares of Innodata by 506.0% in the fourth quarter. Farther Finance Advisors LLC now owns 806 shares of the technology company's stock worth $41,000 after acquiring an additional 673 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Innodata during the first quarter worth approximately $45,000. IFP Advisors Inc lifted its position in shares of 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 purchasing an additional 627 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Innodata during the fourth quarter valued at approximately $51,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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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