Instructure (INST) Now Covered by Analysts at Macquarie
Macquarie assumed coverage on shares of Instructure (NYSE:INST) in a research note released on Thursday. The firm issued an outperform rating and a $41.00 price target on the technology company’s stock.
A number of other analysts have also recently issued reports on INST. Oppenheimer reissued a buy rating and set a $41.00 price objective on shares of Instructure in a report on Wednesday. Zacks Investment Research raised Instructure from a hold rating to a buy rating and set a $39.00 price objective on the stock in a report on Friday, December 1st. Needham & Company LLC reissued a buy rating and set a $39.00 price objective on shares of Instructure in a report on Sunday, October 1st. BidaskClub cut Instructure from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Finally, Jefferies Group increased their price objective on Instructure to $43.00 and gave the stock a buy rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $38.00.
Shares of Instructure (NYSE INST) traded down $0.45 on Thursday, reaching $33.40. The company had a trading volume of 135,200 shares, compared to its average volume of 250,530. Instructure has a twelve month low of $18.80 and a twelve month high of $36.60.
Instructure (NYSE:INST) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.04. The business 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%. The firm’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) EPS. analysts expect that Instructure will post -1.75 earnings per share for the current fiscal year.
In other Instructure news, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.52, for a total value of $67,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William M. Conroy sold 8,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $33.94, for a total value of $271,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,867 shares of company stock worth $2,166,755. Insiders own 62.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in INST. Janus Henderson Group PLC purchased a new stake in shares of Instructure in the 2nd quarter valued at about $34,748,000. SQN Investors LP raised its holdings in shares of Instructure by 89.3% in the 2nd quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after acquiring an additional 633,875 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Instructure by 519.2% in the 2nd quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock valued at $19,605,000 after acquiring an additional 557,255 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Instructure by 269.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 430,868 shares of the technology company’s stock valued at $14,283,000 after acquiring an additional 314,120 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Instructure by 27.6% during the 2nd quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock valued at $41,834,000 after buying an additional 306,964 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
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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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