Vanguard Group Inc. Has $11.11 Million Stake in Instructure, Inc. (INST)
Vanguard Group Inc. increased its stake in Instructure, Inc. (NYSE:INST) by 21.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474,732 shares of the technology company’s stock after buying an additional 83,381 shares during the period. Vanguard Group Inc. owned approximately 1.66% of Instructure worth $11,109,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased 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 increased 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. Pier Capital LLC acquired a new stake in shares of Instructure during the first quarter worth approximately $2,811,000. EAM Investors LLC acquired a new stake in shares of Instructure during the first quarter worth approximately $2,699,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Instructure during the first quarter worth approximately $1,958,000. 78.33% of the stock is owned by hedge funds and other institutional investors.
Instructure, Inc. (NYSE INST) traded down 0.17% during mid-day trading on Friday, reaching $29.55. The company’s stock had a trading volume of 149,692 shares. The company has a 50-day moving average price of $30.72 and a 200-day moving average price of $26.52. Instructure, Inc. has a 12-month low of $17.85 and a 12-month high of $34.10. The firm’s market cap is $868.15 million.
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 analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $38 million during the quarter, compared to analyst estimates of $37.09 million. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The company’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) EPS. On average, equities research analysts expect that Instructure, Inc. will post ($1.24) earnings per share for the current year.
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A number of brokerages recently commented on INST. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $38.00 price target (up from $33.00) on shares of Instructure in a research report on Wednesday, August 2nd. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC raised their target price on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. UBS AG reissued an “outperform” rating and issued a $38.00 target price (up from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, August 8th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Instructure presently has an average rating of “Buy” and an average target price of $35.63.
In other news, CFO Steven B. Kaminsky sold 10,000 shares of the company’s stock in a transaction 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 directly owns 150,459 shares in the company, valued at approximately $4,513,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $386,347.92. The disclosure for this sale can be found here. Insiders sold a total of 27,000 shares of company stock valued at $812,980 over the last 90 days. 62.50% of the stock is currently owned by company 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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