Russell Investments Group Ltd. raised its holdings in shares of Instructure Inc (NYSE:INST) by 64.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,170 shares of the technology company’s stock after acquiring an additional 12,615 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Instructure worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Legal & General Group Plc boosted its stake in shares of Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,440 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure during the 2nd quarter worth about $184,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure during the 1st quarter worth about $192,000. Quantbot Technologies LP acquired a new stake in shares of Instructure during the 2nd quarter worth about $247,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Instructure during the 2nd quarter worth about $275,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.
INST has been the topic of several research analyst reports. Morgan Stanley raised shares of Instructure from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $39.00 in a research report on Monday, September 18th. BidaskClub cut shares of Instructure from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. William Blair initiated coverage on shares of Instructure in a research report on Thursday, October 26th. They issued a “market perform” rating on the stock. Jefferies Group raised their target price on shares of Instructure to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Macquarie initiated coverage on shares of Instructure in a research report on Thursday, December 7th. They issued an “outperform” rating and a $41.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.00.
In other news, Director William M. Conroy sold 8,000 shares of Instructure stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $33.94, for a total transaction of $271,520.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Matthew Kaminer sold 3,000 shares of Instructure stock in a transaction that occurred on Friday, November 3rd. The shares were 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 approximately $558,813.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,867 shares of company stock worth $2,269,015. 62.50% of the stock is currently owned by corporate insiders.
Instructure Inc (NYSE:INST) opened at $34.25 on Friday. The firm has a market cap of $1,036.18, a P/E ratio of -19.35 and a beta of 1.78. Instructure Inc has a 12-month low of $20.30 and a 12-month high of $36.60.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, October 30th. The technology company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates 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 827.22%. Instructure’s revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) earnings per share. research analysts predict that Instructure Inc will post -1.75 EPS for the current fiscal year.
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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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