Instructure, Inc. (INST) Announces Quarterly Earnings Results
Instructure, Inc. (NYSE:INST) announced its quarterly earnings results on Monday. The technology company reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.04, Bloomberg Earnings reports. The business had revenue of $42.95 million during the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. Instructure updated its Q4 guidance to ($0.29-0.27) EPS.
Shares of Instructure (INST) traded up 3.19% during midday trading on Monday, reaching $34.00. The company’s stock had a trading volume of 650,313 shares. Instructure has a 12 month low of $17.85 and a 12 month high of $35.60. The firm’s market cap is $998.89 million. The company has a 50-day moving average price of $33.43 and a 200-day moving average price of $29.42.
Several equities research analysts recently commented on the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. BidaskClub cut Instructure from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Group LLC boosted their price target on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. William Blair assumed coverage on Instructure in a research note on Thursday. They issued a “market perform” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $39.00 price target on shares of Instructure in a research note on Sunday, October 1st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $36.00.
In other Instructure news, SVP Matthew Kaminer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $31.36, for a total value of $62,720.00. Following the completion of the transaction, the senior vice president now directly owns 18,008 shares in the company, valued at $564,730.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the completion of the transaction, the chief financial officer now owns 143,345 shares of the company’s stock, valued at $5,017,075. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,150 shares of company stock valued at $1,283,838. Corporate insiders own 12.80% of the company’s stock.
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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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