Shares of Instructure, Inc. (NYSE:INST) have received an average recommendation of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment 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 average 12 month price objective among analysts that have issued a report on the stock in the last year is $37.50.
Several research firms have weighed in on INST. Jefferies Group LLC boosted their price target on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $41.00 target price (up from $38.00) on shares of Instructure in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, August 8th. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $39.00 target price (up from $33.00) on shares of Instructure in a research note on Thursday, July 27th.
In other news, CFO Steven B. Kaminsky sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the sale, the chief financial officer now directly owns 143,345 shares in the company, valued at approximately $5,017,075. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $34.91, for a total value of $69,820.00. Following the sale, the executive vice president now owns 14,736 shares of the company’s stock, valued at $514,433.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,702 shares of company stock valued at $1,516,302. Corporate insiders own 62.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in shares of Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after acquiring an additional 1,440 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Instructure during the 2nd quarter valued at $184,000. American International Group Inc. lifted its position in shares of Instructure by 7.1% during the 1st quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after acquiring an additional 426 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of Instructure during the 2nd quarter valued at $238,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Instructure during the 1st quarter valued at $192,000. Hedge funds and other institutional investors own 78.04% of the company’s stock.
Instructure (NYSE INST) traded up $0.15 during trading hours on Friday, hitting $34.65. The company’s stock had a trading volume of 207,729 shares, compared to its average volume of 315,586.
Instructure (NYSE:INST) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The company had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. The firm’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. equities research analysts predict that Instructure will post -1.75 earnings per share for the current year.
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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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