Instructure, Inc. (INST) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Instructure, Inc. (NYSE:INST) have earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.63.
A number of research firms have recently commented on INST. Jefferies Group LLC boosted their price objective on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $39.00 price objective (up from $33.00) on shares of Instructure in a research report on Thursday, July 27th. Zacks Investment Research cut Instructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. SunTrust Banks, Inc. began coverage on Instructure in a research report on Monday, June 26th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $33.00 price objective (up from $30.00) on shares of Instructure in a research report on Friday, June 23rd.
In other news, COO Mitch Macfarlane sold 7,650 shares of Instructure stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $30.12, for a total value of $230,418.00. Following the sale, the chief operating officer now directly owns 12,298 shares of the company’s stock, valued at $370,415.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven B. Kaminsky sold 10,000 shares of Instructure stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 150,459 shares in the company, valued at $4,513,770. The disclosure for this sale can be found here. Insiders sold 36,650 shares of company stock valued at $1,102,718 over the last 90 days. Company insiders own 62.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Instructure in the second quarter worth approximately $7,435,000. Wasatch Advisors Inc. boosted its stake in shares of Instructure by 2.6% in the second quarter. Wasatch Advisors Inc. now owns 221,702 shares of the technology company’s stock worth $6,540,000 after acquiring an additional 5,717 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Instructure by 81.5% in the second quarter. California State Teachers Retirement System now owns 37,630 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 16,900 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure in the second quarter worth approximately $184,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Instructure by 94.4% in the second quarter. The Manufacturers Life Insurance Company now owns 17,466 shares of the technology company’s stock worth $516,000 after acquiring an additional 8,483 shares during the last quarter. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/09/16/instructure-inc-inst-given-consensus-recommendation-of-buy-by-brokerages.html.
Instructure (NYSE INST) traded up 1.44% on Friday, reaching $31.75. The company’s stock had a trading volume of 943,354 shares. The company’s market capitalization is $932.78 million. The firm has a 50-day moving average of $30.70 and a 200 day moving average of $27.02. Instructure has a 12-month low of $17.85 and a 12-month high of $34.10.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $38.00 million during the quarter, compared to analysts’ expectations of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. Instructure’s quarterly revenue was up 46.7% on a year-over-year basis. During the same period last year, the business earned ($0.44) earnings per share. On average, equities research analysts anticipate that Instructure will post ($1.24) EPS for the current fiscal year.
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.
Receive News & Ratings for Instructure Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Instructure Inc. and related companies with MarketBeat.com's FREE daily email newsletter.