Renaissance Technologies LLC Invests $2.51 Million in Instructure, Inc. (INST)
Renaissance Technologies LLC bought a new position in Instructure, Inc. (NYSE:INST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 107,335 shares of the technology company’s stock, valued at approximately $2,512,000.
Several other hedge funds have also recently modified their holdings of INST. JPMorgan Chase & Co. boosted its stake in shares of Instructure by 12.0% in the first quarter. JPMorgan Chase & Co. now owns 2,314,092 shares of the technology company’s stock worth $54,150,000 after buying an additional 248,282 shares during the last quarter. FMR LLC boosted its stake in shares of Instructure by 62.2% in the first quarter. FMR LLC now owns 600,000 shares of the technology company’s stock worth $14,040,000 after buying an additional 230,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Instructure by 21.3% in the first quarter. Vanguard Group Inc. now owns 474,732 shares of the technology company’s stock worth $11,109,000 after buying an additional 83,381 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Instructure by 11.7% in the first quarter. Wells Fargo & Company MN now owns 351,303 shares of the technology company’s stock worth $8,220,000 after buying an additional 36,757 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Instructure by 6.8% in the fourth quarter. State Street Corp now owns 161,937 shares of the technology company’s stock worth $3,167,000 after buying an additional 10,348 shares during the last quarter. Institutional investors and hedge funds own 62.15% of the company’s stock.
Instructure, Inc. (NYSE:INST) traded up 0.33% during trading on Tuesday, reaching $30.60. The company had a trading volume of 43,958 shares. The stock has a 50 day moving average of $30.24 and a 200-day moving average of $25.80. The company’s market capitalization is $899.00 million. Instructure, Inc. has a 12 month low of $17.85 and a 12 month high of $34.10.
Instructure (NYSE:INST) last announced its earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The firm had revenue of $38 million during the quarter, compared to the consensus estimate of $37.09 million. During the same quarter in the prior year, the company earned ($0.44) EPS. The firm’s revenue for the quarter was up 46.7% compared to the same quarter last year. Equities research analysts expect that Instructure, Inc. will post ($1.24) EPS for the current fiscal year.
A number of analysts have recently issued reports on INST shares. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $38.00 target price (up previously from $33.00) on shares of Instructure in a report on Wednesday, August 2nd. First Analysis boosted their target price on Instructure from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. ValuEngine upgraded Instructure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. SunTrust Banks, Inc. initiated coverage on Instructure in a report on Monday, June 26th. They set a “buy” rating and a $33.00 target price for the company. Finally, Needham & Company LLC boosted their price target on Instructure from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Instructure currently has an average rating of “Buy” and a consensus price target of $35.63.
In other Instructure news, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was 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 approximately $386,347.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven B. Kaminsky sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 150,459 shares of the company’s stock, valued at approximately $4,513,770. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $750,260. 12.80% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding INST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Instructure, Inc. (NYSE:INST).
Receive News & Ratings for Instructure Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Instructure Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.