Instructure (NYSE:INST) Trading Down 7.9% Following Insider Selling

Instructure Inc (NYSE:INST)’s stock price dropped 7.9% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $47.80 and last traded at $48.75, approximately 11,673,317 shares were traded during trading. An increase of 2,475% from the average daily volume of 453,262 shares. The stock had previously closed at $52.96.

Specifically, insider Matthew Kaminer sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $46.50, for a total value of $232,500.00. Following the sale, the insider now directly owns 46,901 shares of the company’s stock, valued at $2,180,896.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven B. Kaminsky sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $41.43, for a total value of $828,600.00. Following the completion of the sale, the chief financial officer now directly owns 183,817 shares in the company, valued at $7,615,538.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,398 shares of company stock worth $9,056,108. Company insiders own 9.60% of the company’s stock.

INST has been the topic of several recent analyst reports. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, November 1st. ValuEngine raised Instructure from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. William Blair reissued a “market perform” rating on shares of Instructure in a research note on Monday, August 12th. Needham & Company LLC reissued a “hold” rating on shares of Instructure in a research note on Monday, November 18th. Finally, CIBC raised Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 target price on the stock in a research note on Monday, August 12th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $48.63.

The company has a 50-day simple moving average of $47.95 and a two-hundred day simple moving average of $42.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $2.00 billion, a P/E ratio of -39.63 and a beta of 0.52.

Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, October 28th. The technology company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. The business had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $68.08 million. Instructure had a negative return on equity of 44.38% and a negative net margin of 26.64%. The business’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. As a group, research analysts forecast that Instructure Inc will post -2.1 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of INST. Ashburton Jersey Ltd bought a new stake in Instructure during the 2nd quarter valued at approximately $27,000. Aperio Group LLC bought a new stake in Instructure during the 2nd quarter valued at approximately $58,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Instructure during the 2nd quarter valued at approximately $63,000. Russell Investments Group Ltd. boosted its position in Instructure by 100.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,040 shares of the technology company’s stock valued at $79,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Instructure during the 2nd quarter valued at approximately $87,000. 95.01% of the stock is currently owned by institutional investors and hedge funds.

About Instructure (NYSE:INST)

Instructure, Inc provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ-12 and higher education; and Bridge, an employee development and engagement platform. The company's applications enhance academic and corporate learning by providing a system of engagement for teachers and learners, enabling frequent and open interactions, a streamlined workflow, and the creation and sharing of content with anytime, anywhere access to information.

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