Insider Selling: Instructure, Inc. (INST) EVP Sells 2,000 Shares of Stock
Instructure, Inc. (NYSE:INST) EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $34.91, for a total value of $69,820.00. Following the sale, the executive vice president now owns 14,736 shares of the company’s stock, valued at approximately $514,433.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Instructure, Inc. (INST) traded up $0.15 during trading on Friday, reaching $34.65. The company had a trading volume of 207,729 shares, compared to its average volume of 315,586.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. Instructure had a negative return on equity of 2,069.64% and a negative net margin of 34.82%. The business had revenue of $42.95 million during the quarter, compared to the consensus estimate of $40.57 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. Instructure’s revenue was up 42.5% compared to the same quarter last year. equities analysts expect that Instructure, Inc. will post -1.75 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Instructure by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock worth $70,769,000 after purchasing an additional 84,856 shares during the last quarter. Whale Rock Capital Management LLC boosted its position 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 worth $41,834,000 after purchasing an additional 306,964 shares during the last quarter. SQN Investors LP boosted its position in 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 last quarter. Janus Henderson Group PLC purchased a new position in Instructure in the second quarter worth $34,748,000. Finally, Janus Capital Management LLC boosted its position in Instructure by 6.7% in the first quarter. Janus Capital Management LLC now owns 1,142,769 shares of the technology company’s stock worth $26,741,000 after purchasing an additional 71,401 shares during the last quarter. 78.04% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on INST shares. First Analysis boosted their price objective on Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Morgan Stanley upgraded Instructure from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $39.00 in a report on Monday, September 18th. Needham & Company LLC reiterated a “buy” rating and set a $39.00 price target (up previously from $33.00) on shares of Instructure in a report on Thursday, July 27th. Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, August 8th. Finally, UBS AG reiterated an “outperform” rating and set a $38.00 price target (up previously from $33.00) on shares of Instructure in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $37.00.
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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