Macquarie initiated coverage on shares of Instructure (NYSE:INST) in a research report released on Thursday, December 7th, Marketbeat reports. The brokerage issued an outperform rating and a $41.00 target price on the technology company’s stock.
Several other brokerages have also recently issued reports on INST. Needham & Company LLC restated a buy rating and set a $39.00 target price on shares of Instructure in a research report on Sunday, October 1st. BidaskClub cut shares of Instructure from a strong-buy rating to a buy rating in a research report on Tuesday, October 17th. Zacks Investment Research cut shares of Instructure from a buy rating to a hold rating in a research report on Wednesday, October 4th. Oppenheimer reissued a buy rating and issued a $41.00 price objective (up from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Finally, Jefferies Group raised their target price on shares of Instructure to $43.00 and gave the stock a buy rating in a research report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Instructure has a consensus rating of Buy and a consensus price target of $38.00.
Shares of Instructure (NYSE:INST) traded up $0.25 during mid-day trading on Thursday, hitting $33.35. 126,400 shares of the stock were exchanged, compared to its average volume of 164,876. Instructure has a 12-month low of $19.25 and a 12-month high of $36.60. The company has a market cap of $993.01 and a P/E ratio of -18.95.
Instructure (NYSE:INST) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The firm had revenue of $42.95 million during the quarter, compared to the consensus estimate of $40.57 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. equities research analysts expect that Instructure will post -1.75 earnings per share for the current year.
In other news, CFO Steven B. Kaminsky sold 12,500 shares of Instructure stock in a transaction on 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 sale, the chief financial officer now directly owns 143,345 shares in the company, valued at $5,017,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Conroy sold 8,000 shares of Instructure stock in a transaction on Monday, October 16th. The stock was sold at an average price of $33.94, for a total transaction of $271,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,867 shares of company stock valued at $2,269,015. 12.80% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of INST. Legal & General Group Plc raised its holdings in shares of Instructure by 54.6% during the second 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 during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Instructure during the second quarter worth $184,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Instructure during the first quarter worth $192,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Instructure during the third quarter worth $213,000. Finally, Quantbot Technologies LP purchased a new position in shares of Instructure during the second quarter worth $247,000. 78.99% of the stock is owned by hedge funds and other institutional investors.
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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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