Innodata director Massey Stewart sells $2.8 million in stock

Published 27/02/2025, 02:22
Innodata director Massey Stewart sells $2.8 million in stock

Innodata Inc. (NASDAQ:INOD) director Massey Stewart R. recently sold a significant portion of his holdings in the company. On February 26, 2025, Stewart executed sales of common stock totaling $2,801,024. The transactions were conducted in multiple trades, with prices ranging from $63.54 to $64.25 per share. The stock, which has surged nearly 750% over the past year, currently trades at a P/E ratio of 92x, suggesting a premium valuation according to InvestingPro analysis.

Prior to these sales, Stewart exercised stock options to acquire 44,000 shares at a price of $3.21 per share, amounting to a total exercise value of $141,240. Following the transactions, Stewart now holds 21,000 shares indirectly through a SEP IRA, along with 25,262 shares directly. The company maintains strong financial health with a current ratio of 2.05x and minimal debt, while generating robust revenue growth of 96% in the last twelve months.

The sales were made for portfolio diversification purposes, as noted in the filing. For deeper insights into insider transactions and comprehensive financial analysis, including 22 additional ProTips and detailed valuation metrics, explore the full research report available on InvestingPro.

In other recent news, Innodata Inc. reported impressive financial results for the fourth quarter of 2024, exceeding analyst expectations with earnings per share of $0.34 compared to the forecasted $0.21. The company also achieved revenue of $59.2 million, surpassing the expected $52.98 million, marking a 127% year-over-year increase. The strong performance led BWS Financial to raise its price target for Innodata shares to $74 from $45, maintaining a Buy rating. Innodata’s strategic focus on AI and data engineering has been instrumental in driving growth, with the company projecting over 40% revenue growth in 2025. The firm aims to surpass $300 million in revenue by 2026, supported by strategic investments in workforce expansion. Additionally, Innodata ended the year with a cash position of $46.9 million, significantly improved from $13.8 million in 2023. The company’s robust financial health and strategic direction have garnered positive attention, reflecting confidence in its future growth trajectory.

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