Instructure, Inc. (NYSE:INST) Reaches New 52-Week High on Better-Than-Expected Earnings

Instructure, Inc. (NYSE:INST) shares hit a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $32.05 and last traded at $32.00, with a volume of 315,804 shares changing hands. The stock had previously closed at $31.70.

The technology company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business had revenue of $38 million for the quarter, compared to the consensus estimate of $37.09 million. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The firm’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.44) earnings per share.

Several research analysts have recently weighed in on the stock. Jefferies Group LLC lifted their target price on shares of Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Instructure from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. SunTrust Banks, Inc. initiated coverage on shares of Instructure in a research report on Monday, June 26th. They set a “buy” rating and a $33.00 price objective on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $33.00 price objective (up from $30.00) on shares of Instructure in a research report on Friday, June 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $39.00 price objective (up from $33.00) on shares of Instructure in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.63.

In other news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the sale, the executive vice president now directly owns 13,272 shares in the company, valued at $386,347.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven B. Kaminsky sold 10,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 150,459 shares of the company’s stock, valued at $4,513,770. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $750,260 over the last 90 days. 62.50% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC bought a new position in Instructure during the first quarter valued at approximately $26,000,000. Nine Ten Capital Management LLC raised its stake in shares of Instructure by 60.2% in the first quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock valued at $61,568,000 after buying an additional 988,396 shares during the period. Renaissance Technologies LLC raised its stake in shares of Instructure by 519.2% in the second quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock valued at $19,605,000 after buying an additional 557,255 shares during the period. FMR LLC raised its stake in shares of Instructure by 45.9% in the second quarter. FMR LLC now owns 875,150 shares of the technology company’s stock valued at $25,817,000 after buying an additional 275,150 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Instructure by 12.0% in the first quarter. JPMorgan Chase & Co. now owns 2,314,092 shares of the technology company’s stock valued at $54,150,000 after buying an additional 248,282 shares during the period. Hedge funds and other institutional investors own 65.15% of the company’s stock.

The stock’s 50 day moving average is $30.20 and its 200 day moving average is $25.69. The firm’s market cap is $872.56 million.

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Instructure Company Profile

Instructure, Inc provides cloud-based learning management platform for academic institutions and companies across the world. The Company operates in the cloud-based learning management systems segment. The Company builds its learning management applications, Canvas for the education market and Bridge for the corporate market, to enable its customers to develop, deliver and manage face-to-face and online learning experiences.

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