Wellington Management Group LLP Sells 427,071 Shares of Innodata Inc. $INOD

Wellington Management Group LLP cut its stake in shares of Innodata Inc. (NASDAQ:INOD) by 66.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,166 shares of the technology company’s stock after selling 427,071 shares during the period. Wellington Management Group LLP’s holdings in Innodata were worth $16,338,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its stake in shares of Innodata by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 526,012 shares of the technology company’s stock worth $20,315,000 after purchasing an additional 63,779 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Innodata in the 4th quarter valued at approximately $900,000. Next Century Growth Investors LLC grew its stake in shares of Innodata by 107.5% in the fourth quarter. Next Century Growth Investors LLC now owns 365,835 shares of the technology company’s stock valued at $18,639,000 after buying an additional 189,488 shares in the last quarter. UBS Group AG grew its stake in shares of Innodata by 37.1% in the fourth quarter. UBS Group AG now owns 350,928 shares of the technology company’s stock valued at $17,880,000 after buying an additional 95,002 shares in the last quarter. Finally, Meridian Wealth Management LLC increased its holdings in Innodata by 237.6% during the fourth quarter. Meridian Wealth Management LLC now owns 41,927 shares of the technology company’s stock worth $2,136,000 after buying an additional 29,509 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Price Performance

NASDAQ:INOD opened at $55.66 on Monday. The company has a market cap of $1.91 billion, a P/E ratio of 42.17 and a beta of 2.88. The firm’s fifty day moving average price is $63.05 and its two-hundred day moving average price is $63.69. Innodata Inc. has a one year low of $34.23 and a one year high of $125.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.73 and a quick ratio of 1.73.

Innodata (NASDAQ:INOD) last posted its earnings results on Thursday, August 6th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.20. The company had revenue of $92.14 million during the quarter, compared to analysts’ expectations of $86.31 million. Innodata had a net margin of 14.66% and a return on equity of 37.79%. Innodata’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Equities analysts expect that Innodata Inc. will post 1.18 earnings per share for the current year.

Insider Activity

In other Innodata news, Director Louise Forlenza sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $55.01, for a total transaction of $550,100.00. Following the completion of the sale, the director directly owned 5,424 shares in the company, valued at $298,374.24. This trade represents a 64.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jack Abuhoff sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $110.20, for a total value of $22,040,000.00. Following the sale, the chief executive officer owned 1,340,456 shares of the company’s stock, valued at approximately $147,718,251.20. This represents a 12.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 304,059 shares of company stock worth $32,532,136. Insiders own 11.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research lowered shares of Innodata from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Wedbush raised their target price on shares of Innodata from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, BWS Financial reissued a “top pick” rating and set a $140.00 price target on shares of Innodata in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Innodata currently has an average rating of “Moderate Buy” and an average price target of $130.00.

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.