Zacks Investment Research cut shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a report published on Tuesday, December 26th.
According to Zacks, “Instructure, Inc. provides cloud-based online education technology. It develops Canvas, a learning management application 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. The company’s platform also provides data analytics that enable real-time reaction to information and benchmarking in order to personalize curricula and increase the efficacy of the learning process. Instructure, Inc. is based in Salt Lake City, Utah. “
Several other analysts also recently weighed in on the stock. Needham & Company LLC reiterated a buy rating and issued a $39.00 target price on shares of Instructure in a report on Sunday, October 1st. BidaskClub downgraded shares of Instructure from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Oppenheimer restated a buy rating and issued a $41.00 price target (up previously from $38.00) on shares of Instructure in a research note on Tuesday, October 31st. Jefferies Group boosted their price target on shares of Instructure to $43.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. Finally, Morgan Stanley raised shares of Instructure from an equal weight rating to an overweight rating and lifted their price objective for the stock from $35.00 to $39.00 in a research report on Monday, September 18th. Four investment 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’s stock. The company has an average rating of Buy and a consensus target price of $38.00.
Instructure (NYSE:INST) opened at $34.25 on Tuesday. Instructure has a 12 month low of $20.30 and a 12 month high of $36.60. The firm has a market cap of $1,036.18, a PE ratio of -19.35 and a beta of 1.78.
Instructure (NYSE:INST) last released its earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.04. The business had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business’s revenue was up 42.5% on a year-over-year basis. During the same period last year, the company posted ($0.34) EPS. analysts predict that Instructure will post -1.75 EPS for the current year.
In other Instructure news, Director Steven A. Collins sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $33.86, for a total value of $169,300.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $169,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Conroy sold 8,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $33.94, for a total transaction of $271,520.00. The disclosure for this sale can be found here. Insiders sold 65,867 shares of company stock valued at $2,269,015 over the last ninety days. Corporate insiders own 62.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. 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 buying an additional 1,440 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Instructure during the second quarter valued at approximately $184,000. Metropolitan Life Insurance Co. NY purchased a new position in Instructure during the first quarter worth approximately $192,000. Oppenheimer Asset Management Inc. purchased a new position in Instructure during the third quarter worth approximately $213,000. Finally, Quantbot Technologies LP purchased a new position in Instructure during the second quarter worth approximately $247,000. 78.99% of the stock is currently owned by institutional investors.
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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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