Teachers Retirement System of The State of Kentucky Sells 1,998 Shares of Instructure Inc (INST)

Teachers Retirement System of The State of Kentucky cut its position in shares of Instructure Inc (NYSE:INST) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,144 shares of the technology company’s stock after selling 1,998 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.07% of Instructure worth $925,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EastBay Asset Management LLC bought a new position in shares of Instructure in the third quarter valued at approximately $12,114,000. Voya Investment Management LLC raised its stake in shares of Instructure by 5,104.5% in the second quarter. Voya Investment Management LLC now owns 485,322 shares of the technology company’s stock valued at $20,650,000 after acquiring an additional 475,997 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Instructure by 63.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 551,559 shares of the technology company’s stock valued at $19,525,000 after acquiring an additional 213,125 shares during the last quarter. Pacific Grove Capital LP raised its stake in shares of Instructure by 105.0% in the second quarter. Pacific Grove Capital LP now owns 82,000 shares of the technology company’s stock valued at $3,489,000 after acquiring an additional 42,000 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Instructure by 121.5% in the second quarter. Great West Life Assurance Co. Can now owns 3,101 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,701 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

INST stock opened at $37.77 on Monday. Instructure Inc has a fifty-two week low of $29.48 and a fifty-two week high of $49.17. The company has a market capitalization of $1.32 billion, a P/E ratio of -21.96 and a beta of 0.58.

Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, October 29th. The technology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.26. Instructure had a negative net margin of 24.15% and a negative return on equity of 49.49%. The firm had revenue of $55.24 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same quarter in the previous year, the company posted ($0.24) EPS. Instructure’s revenue was up 27.9% on a year-over-year basis. On average, analysts expect that Instructure Inc will post -1.4 earnings per share for the current fiscal year.

INST has been the subject of a number of research analyst reports. Barrington Research reiterated a “buy” rating and issued a $50.00 target price on shares of Instructure in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, November 28th. Morgan Stanley cut their target price on shares of Instructure from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Raymond James cut their target price on shares of Instructure from $50.00 to $45.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 30th. Finally, ValuEngine cut shares of Instructure from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.09.

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Instructure Company Profile

Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K–12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K–12 schools.

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Institutional Ownership by Quarter for Instructure (NYSE:INST)

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