Insider Selling: Instructure, Inc. (INST) Director Sells 6,552 Shares of Stock
Instructure, Inc. (NYSE:INST) Director Steven A. Collins sold 6,552 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $34.50, for a total value of $226,044.00. Following the sale, the director now owns 2,522 shares in the company, valued at approximately $87,009. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Instructure, Inc. (NYSE:INST) traded up $0.15 during trading on Friday, hitting $34.65. 207,387 shares of the stock traded hands, compared to its average volume of 315,586.
Instructure (NYSE:INST) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.04. The firm had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 2,069.64%. The business’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities analysts predict that Instructure, Inc. will post -1.75 earnings per share for the current fiscal year.
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Several equities research analysts have issued reports on INST shares. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $38.00 target price (up previously from $33.00) on shares of Instructure in a research report on Wednesday, August 2nd. Morgan Stanley upgraded Instructure from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $39.00 in a research report on Monday, September 18th. William Blair started coverage on Instructure in a research report on Thursday, October 26th. They set a “market perform” rating on the stock. First Analysis increased their target price on Instructure from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC increased their target price on Instructure to $43.00 and gave the stock a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Instructure has an average rating of “Buy” and an average price target of $37.00.
Several institutional investors have recently added to or reduced their stakes in INST. Janus Henderson Group PLC bought a new position in shares of Instructure in the second quarter worth $34,748,000. SQN Investors LP increased its holdings in shares of Instructure by 89.3% in the second quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock worth $39,646,000 after purchasing an additional 633,875 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Instructure by 519.2% in the second quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock worth $19,605,000 after purchasing an additional 557,255 shares during the period. Whale Rock Capital Management LLC increased its stake in Instructure by 27.6% in the second quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock valued at $41,834,000 after acquiring an additional 306,964 shares during the last quarter. Finally, FMR LLC increased its stake in Instructure by 45.9% in the second quarter. FMR LLC now owns 875,150 shares of the technology company’s stock valued at $25,817,000 after acquiring an additional 275,150 shares during the last quarter. 78.04% of the stock is currently owned by hedge funds and other institutional investors.
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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