Harvest Fund Management Co. Ltd Makes New Investment in Innodata Inc. (NASDAQ:INOD)

Harvest Fund Management Co. Ltd bought a new position in shares of Innodata Inc. (NASDAQ:INOD) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,586 shares of the technology company’s stock, valued at approximately $569,000.

A number of other large investors have also recently added to or reduced their stakes in INOD. Principal Financial Group Inc. bought a new position in Innodata during the 3rd quarter worth about $311,000. Charles Schwab Investment Management Inc. increased its holdings in Innodata by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 76,954 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 1,843 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Innodata by 38.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,443 shares of the technology company’s stock worth $225,000 after purchasing an additional 3,739 shares in the last quarter. Centiva Capital LP bought a new position in Innodata during the 3rd quarter worth about $318,000. Finally, Point72 Asset Management L.P. bought a new position in Innodata during the 3rd quarter worth about $206,000. Institutional investors own 30.75% of the company’s stock.

Innodata Trading Down 2.1 %

Shares of NASDAQ:INOD opened at $42.99 on Friday. Innodata Inc. has a 52-week low of $5.46 and a 52-week high of $71.00. The company has a market capitalization of $1.35 billion, a P/E ratio of 50.58 and a beta of 2.59. The company has a 50-day simple moving average of $44.73 and a 200 day simple moving average of $34.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.84 and a current ratio of 1.84.

Innodata (NASDAQ:INOD) last issued its earnings results on Thursday, February 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Innodata had a net margin of 16.81% and a return on equity of 66.36%. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $53.01 million. Sell-side analysts forecast that Innodata Inc. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

INOD has been the subject of several analyst reports. Chardan Capital restated a “buy” rating and issued a $45.00 price objective on shares of Innodata in a report on Friday, December 13th. Wedbush initiated coverage on Innodata in a report on Thursday, December 19th. They issued an “outperform” rating and a $48.00 price objective for the company. BWS Financial raised their price objective on Innodata from $45.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Maxim Group raised their price objective on Innodata from $54.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Activity at Innodata

In other Innodata news, CFO Marissa B. Espineli sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $65.09, for a total transaction of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares in the company, valued at $1,171,620. This trade represents a 62.50 % 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, Director Nauman Sabeeh Toor sold 196,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total transaction of $12,672,438.80. Following the sale, the director now owns 12,417 shares of the company’s stock, valued at $799,654.80. This trade represents a 94.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,427 shares of company stock worth $17,790,794. Insiders own 15.23% of the company’s stock.

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.