9,325 Shares in Instructure, Inc. (INST) Purchased by Voya Investment Management LLC
Voya Investment Management LLC purchased a new stake in shares of Instructure, Inc. (NYSE:INST) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,325 shares of the technology company’s stock, valued at approximately $275,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in INST. JPMorgan Chase & Co. raised its position in shares of Instructure by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock worth $70,769,000 after acquiring an additional 84,856 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Instructure by 69.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 104,020 shares of the technology company’s stock worth $3,069,000 after acquiring an additional 42,493 shares in the last quarter. Atlantic Trust Group LLC bought a new position in shares of Instructure in the 2nd quarter worth approximately $1,002,000. Hamilton Lane Advisors LLC raised its position in shares of Instructure by 36.1% in the 2nd quarter. Hamilton Lane Advisors LLC now owns 163,344 shares of the technology company’s stock worth $4,819,000 after acquiring an additional 43,327 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Instructure by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 474,732 shares of the technology company’s stock worth $11,109,000 after acquiring an additional 83,381 shares in the last quarter. 77.93% of the stock is owned by institutional investors and hedge funds.
Shares of Instructure, Inc. (NYSE:INST) opened at $33.65 on Thursday. Instructure, Inc. has a 52 week low of $18.75 and a 52 week high of $36.00.
Instructure (NYSE:INST) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. The company had revenue of $42.95 million for the quarter, compared to the consensus estimate of $40.57 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) EPS. equities analysts predict that Instructure, Inc. will post -1.75 EPS for the current fiscal year.
In related news, Director William M. Conroy sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $33.94, for a total value of $271,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $29.66, for a total value of $59,320.00. Following the completion of the sale, the executive vice president now owns 13,272 shares in the company, valued at approximately $393,647.52. The disclosure for this sale can be found here. Insiders sold a total of 65,517 shares of company stock worth $2,208,263 in the last 90 days. 62.50% of the stock is currently owned by company insiders.
Several brokerages have recently issued reports on INST. Oppenheimer Holdings, Inc. reissued 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. BidaskClub lowered Instructure from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered Instructure from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Jefferies Group LLC increased their target price on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Instructure in a research report on Sunday, October 1st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $37.44.
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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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