Instructure Target of Unusually Large Options Trading (NYSE:INST)
Instructure, Inc. (NYSE:INST) was the recipient of some unusual options trading activity on Tuesday. Traders bought 650 put options on the company. This represents an increase of 428% compared to the typical daily volume of 123 put options.
INST has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Raymond James Financial, Inc. upgraded shares of Instructure from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $28.00 to $29.00 in a research note on Thursday, March 16th. SunTrust Banks, Inc. initiated coverage on shares of Instructure in a research note on Monday, June 26th. They set a “buy” rating and a $33.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Instructure from $28.00 to $33.00 and gave the company a “strong-buy” rating in a research note on Tuesday, May 2nd. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $30.00 price objective (up from $27.00) on shares of Instructure in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.71.
Instructure (INST) opened at 28.60 on Friday. Instructure has a 52-week low of $17.85 and a 52-week high of $30.10. The stock has a 50 day moving average of $26.72 and a 200-day moving average of $23.58. The company’s market capitalization is $827.03 million.
Instructure (NYSE:INST) last posted its quarterly earnings results on Monday, May 1st. The technology company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.04. Instructure had a negative net margin of 43.24% and a negative return on equity of 385.77%. The firm had revenue of $34 million for the quarter, compared to the consensus estimate of $32.96 million. During the same quarter in the previous year, the company earned ($0.42) earnings per share. The business’s revenue was up 45.9% compared to the same quarter last year. On average, equities analysts forecast that Instructure will post ($1.27) earnings per share for the current year.
In other Instructure news, EVP Marc T. Maloy sold 3,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $25.21, for a total transaction of $75,630.00. Following the transaction, the executive vice president now directly owns 12,614 shares in the company, valued at approximately $317,998.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marc T. Maloy sold 2,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $29.11, for a total transaction of $58,220.00. Following the transaction, the executive vice president now owns 13,272 shares in the company, valued at $386,347.92. The disclosure for this sale can be found here. Insiders have sold a total of 30,781 shares of company stock worth $771,085 over the last quarter. 62.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Vista Equity Partners Management LLC increased its stake in Instructure by 36.8% in the first quarter. Vista Equity Partners Management LLC now owns 799,117 shares of the technology company’s stock worth $18,699,000 after buying an additional 214,884 shares in the last quarter. Trexquant Investment LP acquired a new stake in Instructure during the first quarter worth $340,000. JPMorgan Chase & Co. increased its stake in Instructure by 12.0% in the first quarter. JPMorgan Chase & Co. now owns 2,314,092 shares of the technology company’s stock worth $54,150,000 after buying an additional 248,282 shares in the last quarter. Wells Fargo & Company MN increased its stake in Instructure by 11.7% in the first quarter. Wells Fargo & Company MN now owns 351,303 shares of the technology company’s stock worth $8,220,000 after buying an additional 36,757 shares in the last quarter. Finally, Nine Ten Capital Management LLC increased its stake in Instructure by 60.2% in the first quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock worth $61,568,000 after buying an additional 988,396 shares in the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.
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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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