Point72 Asset Management L.P. Purchases Shares of 12,255 Innodata Inc. (NASDAQ:INOD)

Point72 Asset Management L.P. acquired a new position in Innodata Inc. (NASDAQ:INOD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 12,255 shares of the technology company’s stock, valued at approximately $206,000.

A number of other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. purchased a new stake in Innodata in the 3rd quarter worth approximately $311,000. Los Angeles Capital Management LLC purchased a new position in Innodata during the 3rd quarter valued at $330,000. Vanguard Group Inc. raised its holdings in Innodata by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 1,460,430 shares of the technology company’s stock worth $9,639,000 after purchasing an additional 28,173 shares in the last quarter. Rathbones Group PLC purchased a new stake in shares of Innodata in the 2nd quarter worth about $916,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Innodata by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,348 shares of the technology company’s stock valued at $102,000 after purchasing an additional 982 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Louise C. Forlenza sold 4,000 shares of Innodata stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $45.10, for a total value of $180,400.00. Following the completion of the transaction, the director now owns 8,278 shares of the company’s stock, valued at $373,337.80. The trade was a 32.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stewart R. Massey sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $40.55, for a total transaction of $2,027,500.00. Following the sale, the director now directly owns 25,262 shares in the company, valued at $1,024,374.10. This trade represents a 66.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 924,876 shares of company stock worth $42,040,262 in the last 90 days. Insiders own 15.23% of the company’s stock.

Innodata Price Performance

Shares of INOD opened at $35.03 on Friday. The firm’s 50-day simple moving average is $30.45 and its two-hundred day simple moving average is $21.08. Innodata Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $55.17. The stock has a market cap of $1.02 billion, a PE ratio of 59.37 and a beta of 2.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Analysts Set New Price Targets

Several brokerages have commented on INOD. StockNews.com upgraded shares of Innodata from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Craig Hallum initiated coverage on Innodata in a research report on Tuesday, September 17th. They set a “buy” rating and a $23.00 price target on the stock. Finally, BWS Financial upped their price target on Innodata from $30.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Innodata presently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

About Innodata

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.