INOD INNODATA INC
Price Chart
Executive Summary
Two insiders (COO and a director) sold a total of ~$23.2M in open-market sales on May 12, 2026, just six days after Innodata reported a record Q1 with revenue up 54% YoY and raised full-year guidance. The sales follow the exercise of stock options at near-zero cost, suggesting a routine post-earnings lockup expiration and diversification rather than a bearish signal, but the dollar amount is material at ~0.8% of market cap.
Key Financial Metrics
Actionable Insight
The cluster is overwhelmingly driven by the COO's large sale, which is typical post-earnings lockup expiration and option exercise. With the company reporting strong fundamentals and raised guidance, these sales are likely liquidity-driven rather than signaling deterioration. Monitor for any follow-on sales by other C-suite executives in the next 30 days; if absent, the signal is noise.
Key Facts
- COO Ashok Mishra sold 234,000 shares at $90.02 for ~$21.1M, after exercising options at $0 and $4.99.
- Director Louise Forlenza sold 24,641 shares at $88.19 for ~$2.2M, after exercising options at $0 and $1.07.
- Total open-market sales: ~$23.2M, representing ~0.8% of INOD's $3.0B market cap.
- Sales occurred 6 days after a record Q1 earnings beat (revenue +54% YoY, Adj. EBITDA +96%) and raised guidance.
- No open-market purchases were made by any insider in the cluster.
Financial Impact
~$23.2M in insider sales, or ~0.8% of market cap
Risk Factors
- COO sold ~$21M worth of stock, which could indicate personal diversification but also reduces insider alignment.
- No insider buying to offset the selling — a one-sided cluster.
- Historical calibration shows score-6 and score-7 reports on INOD have sub-30% observed positive outcomes at T+20, suggesting the market may not react strongly to insider clusters here.
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-INOD-1778717698254 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 3, 2026
6d ago
|
Insider Cluster
| $112.52 awaiting T+1 | awaiting T+1 | — | $102.79 (−8.65%) |
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Jun 3, 2026
6d ago
|
Insider Cluster
| $112.52 awaiting T+1 | awaiting T+1 | — | $102.79 (−8.65%) |
|
Jun 3, 2026
6d ago
|
Insider Cluster
| $108.27 $121.50 | ▲ +12.22% | ▲ +11.82% | $102.79 (−5.06%) |
|
May 26, 2026
14d ago
|
Insider Cluster
| $89.00 $99.35 | ▲ +11.63% | ▲ +11.08% | $102.79 (+15.49%) |
|
May 21, 2026
19d ago
|
Insider Cluster
| $95.48 $95.91 | ▲ +0.45% | ▼ −0.14% | $102.79 (+7.66%) |
|
May 20, 2026
20d ago
|
Insider Cluster
| $98.53 $95.48 | ▼ −3.10% | ▼ −3.54% | $102.79 (+4.32%) |
|
May 18, 2026
22d ago
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Insider Cluster
| $88.19 $94.71 | ▼ −7.39% | ▼ −6.35% | $102.79 (−16.56%) |
|
May 18, 2026
22d ago
|
Insider Cluster
| $88.19 $94.71 | ▲ +7.39% | ▲ +6.35% | $102.79 (+16.56%) |
|
May 12, 2026
29d ago
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Insider Cluster
| $92.09 $89.95 | ▼ −2.32% | ▼ −2.90% | $102.79 (+11.62%) |
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May 12, 2026
29d ago
|
Insider Cluster
| $92.09 $89.95 | ▼ −2.32% | ▼ −2.90% | $102.79 (+11.62%) |
US Market Status
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