Innodata Inc. (NASDAQ:INOD) Shares Sold by Next Century Growth Investors LLC

Next Century Growth Investors LLC trimmed its stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) by 54.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 403,289 shares of the technology company's stock after selling 491,135 shares during the quarter. Next Century Growth Investors LLC owned 1.39% of Innodata worth $15,938,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of Innodata by 2,038.4% during the fourth quarter. JPMorgan Chase & Co. now owns 308,095 shares of the technology company's stock worth $12,176,000 after buying an additional 293,687 shares in the last quarter. Wellington Management Group LLP acquired a new position in Innodata during the 4th quarter worth approximately $11,283,000. Trexquant Investment LP increased its position in shares of Innodata by 222.8% in the 4th quarter. Trexquant Investment LP now owns 300,488 shares of the technology company's stock valued at $11,875,000 after purchasing an additional 207,409 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Innodata by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock valued at $64,802,000 after purchasing an additional 117,000 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Innodata during the 4th quarter worth $2,328,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

Innodata Stock Performance

Shares of NASDAQ INOD traded down $1.24 during trading hours on Thursday, reaching $33.55. The stock had a trading volume of 543,160 shares, compared to its average volume of 1,277,915. The firm has a 50-day moving average of $44.60 and a 200-day moving average of $37.28. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 39.54 and a beta of 2.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $71.00.

Innodata (NASDAQ:INOD - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.20. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. Equities research analysts predict that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INOD. Maxim Group raised their price target on Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wedbush began coverage on Innodata in a research report on Thursday, December 19th. They set an "outperform" rating and a $48.00 target price on the stock. Finally, BWS Financial upped their price target on Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Innodata presently has an average rating of "Moderate Buy" and a consensus target price of $53.00.

Insiders Place Their Bets

In related news, COO Ashok Mishra sold 48,650 shares of Innodata stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total value of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares in the company, valued at $3,904,200. This trade represents a 44.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company's stock, valued at $1,171,620. This trade represents a 62.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,427 shares of company stock valued at $17,790,794. Insiders own 15.23% of the company's stock.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.