Instructure, Inc. (INST) Stock Rating Lowered by BidaskClub
BidaskClub cut shares of Instructure, Inc. (NYSE:INST) from a buy rating to a hold rating in a research report report published on Thursday.
Several other brokerages have also commented on INST. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $38.00 price objective (up from $33.00) on shares of Instructure in a report on Wednesday, August 2nd. Morgan Stanley upgraded shares of Instructure from an equal weight rating to an overweight rating and raised their price objective for the stock from $35.00 to $39.00 in a report on Monday, September 18th. William Blair began coverage on shares of Instructure in a report on Thursday, October 26th. They issued a market perform rating for the company. First Analysis raised their price objective on shares of Instructure from $34.00 to $38.00 and gave the stock an overweight rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC raised their price objective on shares of Instructure to $43.00 and gave the stock a buy rating in a report on Tuesday, October 31st. Four equities research 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. The company currently has an average rating of Buy and a consensus target price of $37.44.
Instructure (NYSE:INST) traded up $0.20 during midday trading on Thursday, hitting $33.50. The company had a trading volume of 211,500 shares, compared to its average volume of 256,624. Instructure has a 12 month low of $18.30 and a 12 month high of $36.00.
Instructure (NYSE:INST) last posted its earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The company had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. Instructure’s quarterly revenue was up 42.5% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. analysts predict that Instructure will post -1.75 EPS for the current fiscal year.
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In other news, CFO Steven B. Kaminsky sold 12,500 shares of Instructure stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the chief financial officer now directly owns 143,345 shares in the company, valued at $5,017,075. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of Instructure stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.66, for a total transaction of $59,320.00. Following the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at $393,647.52. 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 quarter. Company insiders own 12.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 during the last quarter. Atlantic Trust Group LLC purchased a new position in Instructure in the 2nd quarter worth approximately $1,002,000. Hamilton Lane Advisors LLC raised its holdings in 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 during the last quarter. Finally, Vanguard Group Inc. raised its holdings in 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 during the last quarter. Institutional investors own 77.93% of the company’s stock.
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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