Gagnon Securities LLC Acquires 167,354 Shares of Instructure, Inc. (INST)

Gagnon Securities LLC boosted its position in shares of Instructure, Inc. (NYSE:INST) by 860.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,814 shares of the technology company’s stock after buying an additional 167,354 shares during the period. Instructure comprises 1.5% of Gagnon Securities LLC’s holdings, making the stock its 18th largest position. Gagnon Securities LLC owned 0.65% of Instructure worth $5,511,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in shares of Instructure by 6.8% in the fourth quarter. State Street Corp now owns 161,937 shares of the technology company’s stock worth $3,167,000 after buying an additional 10,348 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in shares of Instructure during the first quarter worth approximately $2,808,000. Russell Investments Group Ltd. purchased a new stake in shares of Instructure during the first quarter worth approximately $448,000. Wells Fargo & Company MN raised its stake in shares of Instructure by 11.7% in the first quarter. Wells Fargo & Company MN now owns 351,303 shares of the technology company’s stock worth $8,220,000 after buying an additional 36,757 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Instructure by 7.3% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,100 shares of the technology company’s stock worth $2,062,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 62.15% of the company’s stock.

Shares of Instructure, Inc. (NYSE:INST) traded up 2.79% during trading on Wednesday, reaching $31.30. The company’s stock had a trading volume of 217,605 shares. Instructure, Inc. has a 12 month low of $17.85 and a 12 month high of $34.10. The stock’s 50 day moving average price is $30.32 and its 200-day moving average price is $25.90. The firm’s market cap is $919.56 million.

Instructure (NYSE:INST) last posted its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The firm had revenue of $38 million for the quarter, compared to analysts’ expectations of $37.09 million. During the same quarter last year, the firm earned ($0.44) EPS. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. Equities analysts predict that Instructure, Inc. will post ($1.24) EPS for the current year.

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A number of analysts recently issued reports on the company. UBS AG reaffirmed an “outperform” rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Jefferies Group LLC lifted their target price on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research report on Wednesday, August 2nd. First Analysis lifted their target price on Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price (up previously 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 company. The company presently 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 firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $31.70, for a total transaction of $63,400.00. Following the completion of the sale, the executive vice president now owns 13,272 shares in the company, valued at approximately $420,722.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven B. Kaminsky sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 150,459 shares of the company’s stock, valued at approximately $4,513,770. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,000 shares of company stock worth $750,260. Insiders own 12.80% of the company’s stock.

About Instructure

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.