Coastal Bridge Advisors LLC Acquires New Position in Innodata Inc. $INOD

Coastal Bridge Advisors LLC bought a new position in Innodata Inc. (NASDAQ:INOD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,600 shares of the technology company’s stock, valued at approximately $817,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Innodata by 11.0% in the second quarter. Geode Capital Management LLC now owns 700,217 shares of the technology company’s stock worth $35,869,000 after purchasing an additional 69,475 shares during the period. Jump Financial LLC lifted its stake in shares of Innodata by 1,058.5% during the 2nd quarter. Jump Financial LLC now owns 391,200 shares of the technology company’s stock valued at $20,037,000 after buying an additional 357,433 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Innodata by 33.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 222,374 shares of the technology company’s stock worth $11,392,000 after buying an additional 55,168 shares during the period. HRT Financial LP increased its stake in Innodata by 746.1% in the 2nd quarter. HRT Financial LP now owns 218,635 shares of the technology company’s stock worth $11,198,000 after buying an additional 192,794 shares in the last quarter. Finally, Renaissance Group LLC increased its stake in Innodata by 62.6% in the 2nd quarter. Renaissance Group LLC now owns 177,152 shares of the technology company’s stock worth $9,074,000 after buying an additional 68,188 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

Innodata Stock Performance

NASDAQ INOD opened at $63.86 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.69 and a quick ratio of 2.69. Innodata Inc. has a 1-year low of $26.41 and a 1-year high of $93.85. The business has a 50 day simple moving average of $56.85 and a two-hundred day simple moving average of $58.50. The stock has a market capitalization of $2.03 billion, a PE ratio of 65.84 and a beta of 2.43.

Innodata (NASDAQ:INOD) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. Innodata had a return on equity of 41.67% and a net margin of 14.11%.The business had revenue of $62.55 million for the quarter, compared to analysts’ expectations of $59.78 million. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, research analysts predict that Innodata Inc. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Innodata from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings cut Innodata from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wedbush upped their price target on Innodata from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, BWS Financial raised shares of Innodata from a “buy” rating to a “top pick” rating and set a $110.00 price objective for the company in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.67.

Insider Buying and Selling at Innodata

In other Innodata news, COO Ashok Mishra sold 200,000 shares of Innodata stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $61.39, for a total value of $12,278,000.00. Following the completion of the transaction, the chief operating officer directly owned 60,000 shares of the company’s stock, valued at $3,683,400. This trade represents a 76.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Louise C. Forlenza sold 8,278 shares of the company’s stock in a transaction dated 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 in the company, valued at $256,295. This represents a 67.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 236,372 shares of company stock valued at $14,572,507 in the last quarter. 12.20% of the stock is owned by company 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.