JPMorgan Chase & Co. raised its position in shares of Instructure, Inc. (NYSE:INST) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,619,726 shares of the technology company’s stock after acquiring an additional 220,778 shares during the quarter. JPMorgan Chase & Co. owned approximately 8.80% of Instructure worth $85,403,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc boosted its position in shares of Instructure by 54.6% in the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,440 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Instructure in the 2nd quarter worth approximately $184,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Instructure in the 1st quarter worth approximately $192,000. Quantbot Technologies LP bought a new stake in shares of Instructure in the 2nd quarter worth approximately $247,000. Finally, Voya Investment Management LLC bought a new stake in shares of Instructure in the 2nd quarter worth approximately $275,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Mitch Macfarlane sold 7,650 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.12, for a total transaction of $230,418.00. Following the completion of the sale, the chief operating officer now owns 12,298 shares of the company’s stock, valued at approximately $370,415.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Matthew Kaminer sold 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $34.61, for a total transaction of $103,830.00. Following the sale, the senior vice president now directly owns 16,146 shares of the company’s stock, valued at approximately $558,813.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,517 shares of company stock valued at $2,397,173. Company insiders own 12.80% of the company’s stock.
Instructure (NYSE:INST) last announced its earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. The business had revenue of $42.95 million during 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%. The company’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. equities research analysts predict that Instructure, Inc. will post -1.75 earnings per share for the current year.
INST has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Tuesday, August 8th. Morgan Stanley upgraded shares of Instructure from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $39.00 in a report on Monday, September 18th. Needham & Company LLC restated a “buy” rating and issued a $39.00 price objective on shares of Instructure in a report on Sunday, October 1st. BidaskClub upgraded shares of Instructure from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th. Finally, Oppenheimer restated a “buy” rating and issued a $38.00 price objective on shares of Instructure in a report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Instructure currently has a consensus rating of “Buy” and a consensus target price of $37.67.
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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