Instructure (INST) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Instructure, Inc. provides cloud-based online education technology. It develops Canvas, a learning management application 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. The company’s platform also provides data analytics that enable real-time reaction to information and benchmarking in order to personalize curricula and increase the efficacy of the learning process. Instructure, Inc. is based in Salt Lake City, Utah. “

A number of other equities analysts have also recently issued reports on the stock. Macquarie assumed coverage on shares of Instructure in a research report on Thursday, December 7th. They set an outperform rating and a $41.00 price objective on the stock. Oppenheimer reissued a buy rating and set a $41.00 price objective on shares of Instructure in a research report on Wednesday, December 6th. BidaskClub cut shares of Instructure from a buy rating to a hold rating in a research report on Thursday, November 9th. Jefferies Group increased their price objective on shares of Instructure to $43.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Finally, William Blair assumed coverage on shares of Instructure in a research report on Thursday, October 26th. They set a market perform rating on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Instructure currently has an average rating of Buy and an average target price of $38.00.

Shares of Instructure (NYSE INST) opened at $32.80 on Tuesday. The company has a market cap of $990.03, a price-to-earnings ratio of -18.53 and a beta of 1.77. Instructure has a 1 year low of $19.00 and a 1 year high of $36.60.

Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.04. The business had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities analysts predict that Instructure will post -1.75 earnings per share for the current fiscal year.

In related news, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.52, for a total value of $67,040.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the transaction, the chief financial officer now directly owns 143,345 shares in the company, valued at approximately $5,017,075. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,867 shares of company stock worth $2,336,055. 12.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in INST. Janus Henderson Group PLC bought a new position in Instructure in the 2nd quarter valued at about $34,748,000. SQN Investors LP increased its stake 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 last quarter. Renaissance Technologies LLC increased its stake 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 last quarter. Allianz Asset Management GmbH increased its stake in Instructure by 269.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 430,868 shares of the technology company’s stock valued at $14,283,000 after buying an additional 314,120 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in Instructure by 27.6% in the 2nd quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock valued at $41,834,000 after buying an additional 306,964 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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About Instructure

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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