Instructure (INST) Rating Reiterated by Oppenheimer
Instructure (NYSE:INST)‘s stock had its “buy” rating restated by Oppenheimer in a research note issued on Wednesday. They currently have a $41.00 price objective on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 25.96% from the company’s previous close.
A number of other research firms have also recently issued reports on INST. BidaskClub upgraded Instructure from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 6th. Zacks Investment Research cut Instructure from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. William Blair began coverage on Instructure in a research report on Thursday, October 26th. They issued a “market perform” rating on the stock. Jefferies Group upped their price target on Instructure to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price target on shares of Instructure in a research report on Sunday, October 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $37.67.
Instructure (NYSE:INST) traded up $0.50 on Wednesday, hitting $32.55. The stock had a trading volume of 266,700 shares, compared to its average volume of 251,808. Instructure has a 1-year low of $18.80 and a 1-year high of $36.60.
In other news, SVP Matthew Kaminer sold 3,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $34.61, for a total transaction of $103,830.00. Following the sale, the senior vice president now owns 16,146 shares in the company, valued at $558,813.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen Levy sold 9,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $34.55, for a total value of $310,950.00. Following the sale, the director now owns 17,562 shares in the company, valued at approximately $606,767.10. The disclosure for this sale can be found here. Insiders sold 70,517 shares of company stock worth $2,397,173 over the last quarter. Company insiders own 12.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its stake in shares of Instructure by 54.6% during the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after acquiring an additional 1,440 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Instructure during the second quarter valued at $184,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Instructure during the first quarter valued at $192,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Instructure during the third quarter valued at $213,000. Finally, Quantbot Technologies LP acquired a new position in shares of Instructure during the second quarter valued at $247,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.
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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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