Goldman Sachs Group Inc. raised its holdings in Instructure, Inc. (NYSE:INST) by 94.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,361 shares of the technology company’s stock after buying an additional 42,839 shares during the period. Goldman Sachs Group Inc. owned approximately 0.30% of Instructure worth $2,607,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of INST. SQN Investors LP boosted its position in 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 buying an additional 633,875 shares during the period. Renaissance Technologies LLC boosted its position in 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 buying an additional 557,255 shares during the period. FMR LLC boosted its position in Instructure by 45.9% in the 2nd quarter. FMR LLC now owns 875,150 shares of the technology company’s stock valued at $25,817,000 after buying an additional 275,150 shares during the period. Gagnon Securities LLC boosted its position in Instructure by 860.0% in the 2nd quarter. Gagnon Securities LLC now owns 186,814 shares of the technology company’s stock valued at $5,511,000 after buying an additional 167,354 shares during the period. Finally, Gagnon Advisors LLC purchased a new position in Instructure in the 2nd quarter valued at approximately $3,346,000. 78.04% of the stock is owned by institutional investors.
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Shares of Instructure, Inc. (NYSE INST) opened at 32.95 on Monday. Instructure, Inc. has a one year low of $17.85 and a one year high of $35.60. The firm’s market capitalization is $968.04 million. The stock has a 50 day moving average of $33.33 and a 200-day moving average of $29.25.
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. The business had revenue of $38.00 million during the quarter, compared to the consensus estimate of $37.09 million. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The business’s quarterly revenue was up 46.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.44) earnings per share. On average, equities analysts anticipate that Instructure, Inc. will post ($1.24) earnings per share for the current fiscal year.
In other news, Director Steven A. Collins sold 3,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $30.64, for a total value of $91,920.00. Following the completion of the transaction, the director now directly owns 6,552 shares in the company, valued at $200,753.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $29.66, for a total transaction of $59,320.00. Following the completion of the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at $393,647.52. The disclosure for this sale can be found here. Insiders sold 39,150 shares of company stock valued at $1,283,838 over the last 90 days. Insiders own 12.80% of the company’s stock.
INST has been the subject of several recent research reports. Zacks Investment Research raised shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research report on Monday, July 3rd. First Analysis raised their price target on shares of Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $39.00 price target (up previously from $33.00) on shares of Instructure in a research report on Thursday, July 27th. UBS AG reissued an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC raised their price objective on shares of Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating, seven have assigned 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 target price of $36.00.
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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