Instructure, Inc. (INST) Position Cut by Alliancebernstein L.P.
Alliancebernstein L.P. lowered its stake in shares of Instructure, Inc. (NYSE:INST) by 10.7% during the first quarter, Holdings Channel reports. The fund owned 15,800 shares of the technology company’s stock after selling 1,900 shares during the period. Alliancebernstein L.P.’s holdings in Instructure were worth $370,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in 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 last quarter. Pier Capital LLC acquired a new position in Instructure during the first quarter valued at $2,811,000. Hamilton Lane Advisors LLC acquired a new position in Instructure during the first quarter valued at $2,808,000. EAM Investors LLC acquired a new position in Instructure during the first quarter valued at $2,699,000. Finally, Ameriprise Financial Inc. acquired a new position in Instructure during the first quarter valued at $1,635,000. 65.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Instructure, Inc. (NYSE INST) traded up 0.34% on Friday, reaching $29.70. The company’s stock had a trading volume of 353,861 shares. The stock’s market cap is $872.56 million. The company’s 50 day moving average is $30.20 and its 200-day moving average is $25.69. Instructure, Inc. has a 1-year low of $17.85 and a 1-year high of $34.10.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The company had revenue of $38 million for the quarter, compared to analyst estimates of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.44) earnings per share. On average, equities analysts predict that Instructure, Inc. will post ($1.24) earnings per share for the current fiscal year.
INST has been the topic of several recent analyst reports. Zacks Investment Research lowered Instructure from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and set a $30.00 price target on shares of Instructure in a research report on Friday, June 2nd. ValuEngine raised Instructure from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. SunTrust Banks, Inc. assumed coverage on Instructure in a research report on Monday, June 26th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $30.00 target price (up from $27.00) on shares of Instructure in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $35.63.
In other news, Director Steven A. Collins sold 3,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $30.64, for a total value of $91,920.00. Following the sale, the director now directly owns 6,552 shares in the company, valued at $200,753.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction dated 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 owns 13,272 shares in the company, valued at $386,347.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock worth $750,260. Corporate insiders own 62.50% 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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