Sei Investments Co. Takes Position in Instructure, Inc. (INST)
Sei Investments Co. acquired a new position in Instructure, Inc. (NYSE:INST) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,380 shares of the technology company’s stock, valued at approximately $1,162,000. Sei Investments Co. owned approximately 0.14% of Instructure at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. American International Group Inc. raised its stake 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 worth $151,000 after buying an additional 426 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure during the first quarter worth $192,000. Essex Investment Management Co. LLC acquired a new stake in shares of Instructure during the second quarter worth $238,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Instructure during the first quarter worth $328,000. Finally, Trexquant Investment LP acquired a new stake in shares of Instructure during the first quarter worth $340,000. Hedge funds and other institutional investors own 78.33% of the company’s stock.
Shares of Instructure, Inc. (NYSE:INST) opened at 29.95 on Thursday. The company’s 50 day moving average price is $30.64 and its 200 day moving average price is $26.33. The company’s market capitalization is $879.90 million. Instructure, Inc. has a 52-week low of $17.85 and a 52-week high of $34.10.
Instructure (NYSE:INST) last released its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The company 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 firm posted ($0.44) earnings per share. Instructure’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, analysts predict that Instructure, Inc. will post ($1.24) EPS for the current year.
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INST has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price objective (up from $33.00) on shares of Instructure in a research report on Thursday, July 27th. Jefferies Group LLC lifted their price objective on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. SunTrust Banks, Inc. initiated coverage on Instructure in a research report on Monday, June 26th. They issued a “buy” rating and a $33.00 price objective on the stock. BidaskClub lowered Instructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $35.63.
In other Instructure news, SVP Matthew Kaminer sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $31.36, for a total value of $62,720.00. Following the completion of the transaction, the senior vice president now owns 18,008 shares in the company, valued at $564,730.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven B. Kaminsky sold 10,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, 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. Insiders sold 27,000 shares of company stock valued at $812,980 in the last 90 days. 62.50% of the stock is currently owned by 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.
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