Innodata (INOD) CEO Sells $22.8M in Shares Following Record Earnings Beat

Innodata Inc. (INOD) CEO Jack Abuhoff sold over 243,000 shares between May 12 and May 14, generating approximately $22.8 million in proceeds. The sales occurred at prices ranging from $91.19 to $95.60 per share, reducing Abuhoff’s direct holdings by around 5.08%. Other executives, including COO Ashok Mishra and board members Louise C. Forlenza and Stewart Massey, also liquidated shares totaling millions in value. The stock sales followed Innodata’s strong first-quarter results, which exceeded expectations with $0.42 earnings per share—far above the $0.08 forecast—and $90.1 million in revenue, up 54.5% year-over-year. The company’s performance triggered a 20% single-day stock surge and prompted leadership to highlight a major technology contract and improving profit margins. Wedbush Securities upgraded its price target to $100 with an ‘outperform’ rating, while the Street consensus remains ‘Moderate Buy’ at $105. Institutional investors like AQR Capital Management and JPMorgan increased their stakes, though options trading showed cautious activity, with heavy put-option purchases signaling potential downside concerns. Innodata’s shares traded near $90.15, up 0.2% on the day, with a 52-week range of $33.44 to $114.77 and a market capitalization of $2.94 billion. The stock has risen over 76% since the start of the year, trading well above its 50-day and 200-day moving averages of $47.42 and $52.97, respectively. Analysts remain divided, with Maxim Group adjusting some 2026–2027 profit forecasts downward but still anticipating strong growth. Meanwhile, institutional ownership stands at 30.75%, reflecting confidence in the company’s long-term trajectory despite recent insider selling.