Handelsbanken Fonder AB Purchases New Position in Innodata Inc. $INOD

Handelsbanken Fonder AB purchased a new stake in shares of Innodata Inc. (NASDAQ:INOD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,800 shares of the technology company’s stock, valued at approximately $397,000.

Several other institutional investors also recently bought and sold shares of INOD. AQR Capital Management LLC raised its position in Innodata by 446.4% during the first quarter. AQR Capital Management LLC now owns 90,968 shares of the technology company’s stock valued at $3,266,000 after acquiring an additional 74,320 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Innodata by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,085 shares of the technology company’s stock valued at $577,000 after acquiring an additional 711 shares in the last quarter. Millennium Management LLC raised its position in Innodata by 30.7% during the first quarter. Millennium Management LLC now owns 142,608 shares of the technology company’s stock valued at $5,120,000 after acquiring an additional 33,473 shares in the last quarter. JPMorgan Chase & Co. raised its position in Innodata by 16.0% during the second quarter. JPMorgan Chase & Co. now owns 20,375 shares of the technology company’s stock valued at $1,044,000 after acquiring an additional 2,816 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Innodata by 1,527.3% during the second quarter. Russell Investments Group Ltd. now owns 9,422 shares of the technology company’s stock valued at $483,000 after acquiring an additional 8,843 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Innodata Price Performance

Shares of Innodata stock opened at $99.35 on Friday. The business has a 50 day simple moving average of $57.50 and a two-hundred day simple moving average of $54.62. Innodata Inc. has a 12 month low of $34.23 and a 12 month high of $114.77. The stock has a market capitalization of $3.24 billion, a P/E ratio of 89.50 and a beta of 2.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.49 and a quick ratio of 2.49.

Innodata (NASDAQ:INOD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.34. Innodata had a return on equity of 37.49% and a net margin of 13.86%.The business had revenue of $90.10 million during the quarter, compared to analysts’ expectations of $76.47 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 54.5% compared to the same quarter last year. As a group, analysts predict that Innodata Inc. will post 0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INOD. BWS Financial reiterated a “top pick” rating and set a $110.00 price target on shares of Innodata in a research report on Friday, April 10th. Weiss Ratings cut Innodata from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Wedbush upped their price target on Innodata from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 242,901 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $90.15, for a total transaction of $21,897,525.15. Following the completion of the transaction, the chief operating officer owned 95,179 shares of the company’s stock, valued at $8,580,386.85. This represents a 71.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louise C. Forlenza sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $88.86, for a total value of $2,665,800.00. Following the completion of the sale, the director owned 3,943 shares of the company’s stock, valued at $350,374.98. This trade represents a 88.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,014,907 shares of company stock valued at $94,584,893 over the last quarter. 11.80% of the stock is currently owned by insiders.

Innodata Company Profile

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.