Quantbot Technologies LP Increases Stake in Instructure, Inc. (INST)
Quantbot Technologies LP grew its holdings in Instructure, Inc. (NYSE:INST) by 89.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 15,901 shares of the technology company’s stock after buying an additional 7,516 shares during the period. Quantbot Technologies LP owned 0.05% of Instructure worth $527,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in INST. Legal & General Group Plc raised its holdings in shares of Instructure by 54.6% in the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after buying an additional 1,440 shares during the last quarter. American International Group Inc. raised its holdings in shares of Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after buying an additional 426 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Instructure in the second quarter valued at about $184,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Instructure in the first quarter valued at about $192,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Instructure in the second quarter valued at about $238,000. 78.63% of the stock is owned by institutional investors and hedge funds.
Instructure, Inc. (NYSE INST) opened at $36.40 on Friday. Instructure, Inc. has a one year low of $18.80 and a one year high of $36.60.
Instructure (NYSE:INST) last issued its quarterly earnings results 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. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. During the same period in the previous year, the business posted ($0.34) earnings per share. The business’s revenue was up 42.5% compared to the same quarter last year. sell-side analysts anticipate that Instructure, Inc. will post -1.75 earnings per share for the current year.
In other news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 13,272 shares in the company, valued at $393,647.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William M. Conroy sold 8,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $33.94, for a total transaction of $271,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,517 shares of company stock worth $2,145,543. Company insiders own 62.50% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Tuesday, August 8th. UBS AG reaffirmed an “outperform” rating and issued a $38.00 target price (up from $33.00) on shares of Instructure in a report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price on shares of Instructure in a report on Sunday, October 1st. BidaskClub cut shares of Instructure from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $41.00 target price (up from $38.00) on shares of Instructure in a report on Tuesday, October 31st. Four research analysts have rated the stock with a hold rating, seven have issued 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 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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