Innodata director Louise Forlenza sold $225,940 worth of stock Via Investing.com
Innodata Inc. (NASDAQ:INOD) Director Louise C. Forlenza recently sold a majority of her holdings in the company, according to a recent filing with the Securities and Exchange Commission. On November 25th, Forlenza sold 5,000 shares of Innodata common stock, amounting to $225,940. Selling prices ranged from $45.10 to $45.54 per share.
Following this transaction, Forlenza retains direct ownership of 8,278 shares, with an additional 774 shares held indirectly through a 401(k) plan. The sale was part of his personal investment and financial planning, aimed at retirement planning and portfolio diversification.
In other recent news, Innodata reported record Q3 revenue of $52 million, marking a 136% increase from last year. The company’s adjusted EBITDA stood at $13.9 million, representing 27% of revenue. A significant portion of the revenue, $30.6 million, comes from one Big Tech customer. Innodata also raised its full-year 2024 revenue guidance to $52-$55 million, indicating growth of 88%-92%.
The company has a solid cash balance of $26.4 million and has received SEC approval for a $50 million offering, although there are no immediate plans to raise capital. These latest developments reflect Innodata’s strong business momentum, with strategic plans to expand relationships with seven key customers and expand federal government engagement. However, contributions from state participation are not expected to be significant until after 2025. Despite this, the company expects strong business momentum to continue in the fourth quarter and 2025.
InvestingPro Insights
Innodata Inc. (NASDAQ:INOD) has been experiencing significant growth and market attention, as seen in its recent stock performance and financial metrics. According to InvestingPro data, the company’s revenue growth has been positive, with an increase of 71.66% in the last twelve months from Q3 2024. This growth trend is further emphasized by the quarterly revenue growth of 135.57% in Q3 2024.
The market has taken notice of Innodata’s performance, and the stock price is showing an impressive return. InvestingPro data reveals a staggering 571.45% price return over the past year, and a 250.23% return over the past six months. This is in line with the “InvestingPro Tip” which shows strong returns over the past month and three months.
Despite the recent insider sale of director Louise C. Forlenza, it is important to note that Innodata’s financial position appears to be strong. The InvestingPro tip highlights that the company carries more cash than debt on its balance sheet, which can provide financial flexibility for future growth plans.
Investors should note that although the stock’s performance has been impressive, it is currently trading at a higher multiple. The P/E ratio stands at 66.12, and the Price to Book ratio is 27.59, suggesting that the stock may be overpriced. This is consistent with InvestingPro’s tip indicating that the stock is trading at high earnings and earnings multiples.
For those interested in comprehensive analysis, InvestingPro offers 22 additional Innodata tips, which provide a deeper understanding of the company’s financial health and market conditions.
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