BidaskClub lowered shares of Instructure, Inc. (NYSE:INST) from a buy rating to a hold rating in a research report released on Thursday.
INST has been the subject of a number of other reports. Oppenheimer Holdings, Inc. reaffirmed a buy rating and issued a $41.00 price objective (up from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Jefferies Group LLC upped their price target on shares of Instructure from $30.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, August 1st. Needham & Company LLC restated a buy rating and set a $39.00 price target on shares of Instructure in a research note on Sunday, October 1st. Zacks Investment Research cut shares of Instructure from a buy rating to a hold rating in a research note on Wednesday, October 4th. Finally, UBS AG restated an outperform rating and set a $38.00 price objective (up previously from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Instructure has an average rating of Buy and an average price target of $37.44.
Instructure (INST) traded up $0.20 during mid-day trading on Thursday, reaching $33.50. 211,500 shares of the company traded hands, compared to its average volume of 256,624. Instructure has a 1-year low of $18.30 and a 1-year high of $36.00.
Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.04. The firm had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) earnings per share. equities analysts expect that Instructure will post -1.75 EPS for the current year.
In other news, COO Mitch Macfarlane sold 7,650 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.12, for a total value of $230,418.00. Following the transaction, the chief operating officer now owns 12,298 shares of the company’s stock, valued at $370,415.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew Kaminer sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $31.36, for a total transaction of $62,720.00. Following the completion of the transaction, the senior vice president now directly owns 18,008 shares in the company, valued at approximately $564,730.88. The disclosure for this sale can be found here. Insiders have sold 65,517 shares of company stock valued at $2,208,263 over the last 90 days. 62.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC increased its position in Instructure by 32.8% during the third quarter. Citadel Advisors LLC now owns 23,459 shares of the technology company’s stock valued at $778,000 after acquiring an additional 5,789 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Instructure by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 2,619,726 shares of the technology company’s stock worth $85,403,000 after purchasing an additional 220,778 shares during the last quarter. EAM Investors LLC grew its holdings in Instructure by 0.9% during the 3rd quarter. EAM Investors LLC now owns 166,712 shares of the technology company’s stock worth $5,527,000 after acquiring an additional 1,486 shares in the last quarter. Hood River Capital Management LLC bought a new position in Instructure during the 3rd quarter worth about $5,413,000. Finally, Quantbot Technologies LP grew its holdings in Instructure by 89.6% during the 3rd quarter. Quantbot Technologies LP now owns 15,901 shares of the technology company’s stock worth $527,000 after acquiring an additional 7,516 shares in the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
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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