Schonfeld Strategic Advisors LLC Purchases New Holdings in Innodata Inc. (NASDAQ:INOD)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Innodata Inc. (NASDAQ:INOD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,100 shares of the technology company's stock, valued at approximately $952,000. Schonfeld Strategic Advisors LLC owned about 0.08% of Innodata as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Innodata by 9.9% during the 4th quarter. Northern Trust Corp now owns 252,753 shares of the technology company's stock valued at $9,989,000 after acquiring an additional 22,808 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Innodata during the 4th quarter valued at $323,000. Price T Rowe Associates Inc. MD raised its stake in Innodata by 11.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,105 shares of the technology company's stock valued at $756,000 after purchasing an additional 1,996 shares during the period. Harvest Investment Services LLC acquired a new stake in Innodata during the 4th quarter valued at $747,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Innodata during the 4th quarter valued at $865,000. Institutional investors and hedge funds own 30.75% of the company's stock.

Insider Activity

In other news, Director Nauman Sabeeh Toor sold 196,777 shares of Innodata stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the transaction, the director now owns 12,417 shares in the company, valued at approximately $799,654.80. The trade was a 94.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Marissa B. Espineli sold 30,000 shares of Innodata stock in a transaction that occurred on 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 transaction, 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. Over the last 90 days, insiders sold 275,427 shares of company stock worth $17,790,794. Insiders own 12.20% of the company's stock.

Innodata Price Performance

INOD traded up $1.19 during midday trading on Monday, reaching $35.81. 3,595,425 shares of the company's stock were exchanged, compared to its average volume of 1,302,668. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 42.13 and a beta of 2.75. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. Innodata Inc. has a one year low of $10.66 and a one year high of $71.00. The business has a 50-day simple moving average of $38.73 and a two-hundred day simple moving average of $39.87.

Innodata (NASDAQ:INOD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to analysts' expectations of $57.64 million. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The company's quarterly revenue was up 120.1% on a year-over-year basis. As a group, research analysts predict that Innodata Inc. will post 0.81 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INOD. BWS Financial boosted their target price on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Maxim Group increased their target price on shares of Innodata from $54.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Wedbush lowered their price target on Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Innodata currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

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.