Steven A. Collins Sells 3,000 Shares of Instructure, Inc. (INST) Stock
Instructure, Inc. (NYSE:INST) Director Steven A. Collins sold 3,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $30.64, for a total transaction of $91,920.00. Following the completion of the transaction, the director now owns 6,552 shares in the company, valued at $200,753.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Instructure, Inc. (NYSE INST) traded up 1.94% during midday trading on Tuesday, reaching $31.50. 589,541 shares of the company’s stock traded hands. The firm’s market cap is $916.34 million. The stock’s 50 day moving average price is $29.67 and its 200 day moving average price is $25.38. Instructure, Inc. has a 1-year low of $17.85 and a 1-year high of $34.10.
Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The company had revenue of $38 million for the quarter, compared to analyst estimates of $37.09 million. During the same period in the prior year, the firm posted ($0.44) EPS. The company’s quarterly revenue was up 46.7% on a year-over-year basis. Equities research analysts anticipate that Instructure, Inc. will post ($1.24) EPS for the current year.
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Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in Instructure by 54.6% in the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after buying an additional 1,440 shares in the last quarter. American International Group Inc. raised its stake in Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after buying an additional 426 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Instructure during the second quarter worth approximately $238,000. Metropolitan Life Insurance Co. NY purchased a new stake in Instructure during the first quarter worth approximately $192,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Instructure during the first quarter worth approximately $328,000. 65.15% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Tuesday, April 11th. Needham & Company LLC increased their target price on shares of Instructure from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 2nd. Jefferies Group LLC increased their target price on shares of Instructure from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $30.00 target price (up from $27.00) on shares of Instructure in a report on Thursday, May 4th. Finally, ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.63.
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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