Innodata Inc. (NASDAQ:INOD) Shares Bought by State Street Corp

State Street Corp lifted its holdings in shares of Innodata Inc. (NASDAQ:INOD) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 537,301 shares of the technology company’s stock after buying an additional 9,408 shares during the period. State Street Corp’s holdings in Innodata were worth $9,011,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Innodata in the 2nd quarter worth approximately $27,000. Point72 Asset Management L.P. acquired a new position in shares of Innodata during the third quarter worth $206,000. BNP Paribas Financial Markets boosted its stake in shares of Innodata by 38.5% in the third quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock valued at $225,000 after purchasing an additional 3,739 shares during the period. Private Advisor Group LLC grew its holdings in Innodata by 17.4% during the 3rd quarter. Private Advisor Group LLC now owns 14,907 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,207 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Innodata during the 2nd quarter worth $285,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Innodata Trading Up 7.3 %

NASDAQ:INOD opened at $46.23 on Friday. 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 52 week low of $5.46 and a 52 week high of $55.17. The business’s 50 day moving average is $34.66 and its two-hundred day moving average is $22.76. The company has a market cap of $1.34 billion, a PE ratio of 78.36 and a beta of 2.56.

Insider Transactions at Innodata

In other news, Director Stewart R. Massey sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the completion of the transaction, the director now directly owns 25,262 shares in the company, valued at approximately $1,024,374.10. The trade was a 66.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nauman Sabeeh Toor sold 110,207 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $44.00, for a total value of $4,849,108.00. Following the completion of the transaction, the director now directly owns 209,194 shares of the company’s stock, valued at $9,204,536. This trade represents a 34.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,035,083 shares of company stock worth $46,889,370. 15.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on INOD shares. Wedbush assumed coverage on shares of Innodata in a research report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. StockNews.com raised Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Chardan Capital restated a “buy” rating and set a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Craig Hallum initiated coverage on Innodata in a research note on Tuesday, September 17th. They set a “buy” rating and a $23.00 target price for the company. Finally, BWS Financial raised their price target on shares of Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities 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.com, Innodata currently has a consensus rating of “Moderate Buy” and an average target price of $38.20.

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.