Innodata Inc. $INOD Shares Sold by Renaissance Group LLC

Renaissance Group LLC lessened its stake in Innodata Inc. (NASDAQ:INOD) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,886 shares of the technology company’s stock after selling 24,266 shares during the quarter. Renaissance Group LLC owned 0.48% of Innodata worth $11,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INOD. Bessemer Group Inc. purchased a new position in Innodata during the third quarter valued at approximately $62,000. SBI Securities Co. Ltd. grew its stake in shares of Innodata by 22.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 3,629 shares of the technology company’s stock worth $280,000 after purchasing an additional 657 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Innodata by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 40,605 shares of the technology company’s stock valued at $3,129,000 after purchasing an additional 8,145 shares in the last quarter. Cherry Creek Investment Advisors Inc. acquired a new position in shares of Innodata in the 3rd quarter valued at $209,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Innodata during the third quarter worth $201,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INOD. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Innodata in a research report on Friday, January 30th. Zacks Research cut Innodata from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings downgraded Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, BWS Financial restated a “top pick” rating and issued a $110.00 price objective on shares of Innodata in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.67.

Insiders Place Their Bets

In other Innodata news, Director Louise C. Forlenza sold 8,278 shares of Innodata stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.00, for a total transaction of $538,070.00. Following the sale, the director owned 3,943 shares of the company’s stock, valued at $256,295. The trade was a 67.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ashok Mishra sold 200,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total transaction of $12,278,000.00. Following the completion of the sale, the chief operating officer owned 60,000 shares of the company’s stock, valued at $3,683,400. This trade represents a 76.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 236,372 shares of company stock worth $14,572,507 in the last 90 days. 12.20% of the stock is currently owned by insiders.

Innodata Trading Up 9.4%

Shares of Innodata stock opened at $47.59 on Friday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.08. Innodata Inc. has a twelve month low of $26.41 and a twelve month high of $93.85. The firm has a market capitalization of $1.52 billion, a PE ratio of 49.06 and a beta of 2.42. The firm’s 50-day moving average price is $56.18 and its 200 day moving average price is $58.54.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, November 6th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $62.55 million during the quarter, compared to analysts’ expectations of $59.78 million. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The company’s revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

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.