Strs Ohio lessened its position in shares of Instructure, Inc. (NYSE:INST) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,400 shares of the technology company’s stock after selling 3,400 shares during the quarter. Strs Ohio owned approximately 0.08% of Instructure worth $775,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in shares of Instructure by 54.6% in the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,440 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure in the second quarter valued at about $184,000. American International Group Inc. grew its position 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 valued at $151,000 after purchasing an additional 426 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Instructure in the second quarter valued at about $238,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure in the first quarter valued at about $192,000. Institutional investors own 77.92% of the company’s stock.
In other Instructure news, Director Steven A. Collins sold 6,552 shares of Instructure stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $34.50, for a total transaction of $226,044.00. Following the transaction, the director now directly owns 2,522 shares of the company’s stock, valued at $87,009. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew Kaminer sold 2,000 shares of Instructure stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $31.36, for a total transaction of $62,720.00. Following the transaction, the senior vice president now directly owns 18,008 shares in the company, valued at $564,730.88. The disclosure for this sale can be found here. Insiders have sold 42,702 shares of company stock worth $1,424,382 over the last 90 days. 12.80% of the stock is currently owned by company insiders.
Instructure, Inc. (NYSE:INST) opened at $34.65 on Monday.
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 analysts’ consensus estimates of ($0.31) by $0.04. The firm had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. Instructure’s quarterly revenue was up 42.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share. equities analysts anticipate that Instructure, Inc. will post -1.75 EPS for the current year.
Several analysts have recently issued reports on INST shares. First Analysis lifted their target price 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. Morgan Stanley upgraded shares of Instructure from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $39.00 in a research report on Monday, September 18th. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 target price (up previously from $33.00) on shares of Instructure in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, August 8th. Finally, UBS AG reiterated an “outperform” rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research report on Tuesday, August 1st. Four investment 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. Instructure presently has an average rating of “Buy” and an average price target of $37.00.
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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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