Renaissance Technologies LLC Sells 70,000 Shares of Innodata Inc. (NASDAQ:INOD)

Renaissance Technologies LLC trimmed its holdings in Innodata Inc. (NASDAQ:INOD - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 491,990 shares of the technology company's stock after selling 70,000 shares during the quarter. Renaissance Technologies LLC owned 1.70% of Innodata worth $19,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in Innodata by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company's stock worth $1,291,000 after buying an additional 1,843 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company's stock worth $225,000 after purchasing an additional 3,739 shares during the last quarter. State Street Corp raised its position in shares of Innodata by 1.8% in the third quarter. State Street Corp now owns 537,301 shares of the technology company's stock valued at $9,011,000 after buying an additional 9,408 shares during the last quarter. Barclays PLC raised its holdings in Innodata by 324.3% in the 3rd quarter. Barclays PLC now owns 38,557 shares of the technology company's stock valued at $647,000 after acquiring an additional 29,470 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Innodata by 2.3% during the third quarter. Geode Capital Management LLC now owns 613,748 shares of the technology company's stock valued at $10,294,000 after acquiring an additional 13,609 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company's stock.

Insider Activity at Innodata

In related news, CFO Marissa B. Espineli sold 30,000 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were 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 represents a 62.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ashok Mishra sold 48,650 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $65.07, for a total transaction of $3,165,655.50. Following the transaction, the chief operating officer now directly owns 60,000 shares of the company's stock, valued at approximately $3,904,200. This trade represents a 44.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,427 shares of company stock valued at $17,790,794 over the last three months. 15.23% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Innodata Trading Down 4.8 %

INOD stock traded down $1.68 on Friday, hitting $33.10. 905,925 shares of the company were exchanged, compared to its average volume of 1,283,325. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 38.94 and a beta of 2.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.84 and a quick ratio of 1.84. The business's fifty day moving average is $44.38 and its two-hundred day moving average is $37.39. Innodata Inc. has a twelve month low of $5.46 and a twelve month high of $71.00.

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

Innodata 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.