Schwab Charles Investment Management Inc. grew its stake in Instructure Inc (NYSE:INST) by 73.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,574 shares of the technology company’s stock after purchasing an additional 32,412 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.26% of Instructure worth $2,539,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Citadel Advisors LLC increased its position in Instructure by 32.8% during the third quarter. Citadel Advisors LLC now owns 23,459 shares of the technology company’s stock worth $778,000 after acquiring an additional 5,789 shares during the period. JPMorgan Chase & Co. increased its position in Instructure by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 2,619,726 shares of the technology company’s stock worth $85,403,000 after acquiring an additional 220,778 shares during the period. EAM Investors LLC increased its position in Instructure by 0.9% during the third quarter. EAM Investors LLC now owns 166,712 shares of the technology company’s stock worth $5,527,000 after acquiring an additional 1,486 shares during the period. Hood River Capital Management LLC bought a new position in Instructure during the third quarter worth about $5,413,000. Finally, Quantbot Technologies LP increased its position in Instructure by 89.6% during the third quarter. Quantbot Technologies LP now owns 15,901 shares of the technology company’s stock worth $527,000 after acquiring an additional 7,516 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total value of $437,500.00. Following the sale, the chief financial officer now directly owns 143,345 shares in the company, valued at approximately $5,017,075. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mitch Macfarlane sold 19,815 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $34.32, for a total transaction of $680,050.80. Following the completion of the sale, the chief operating officer now owns 11,964 shares in the company, valued at $410,604.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,867 shares of company stock worth $1,997,495. 62.50% of the stock is currently owned by corporate insiders.
Instructure Inc (NYSE:INST) opened at $33.70 on Thursday. Instructure Inc has a 1-year low of $21.20 and a 1-year high of $36.60. The company has a market cap of $998.96, a PE ratio of -19.04 and a beta of 1.78.
Instructure (NYSE:INST) last released its earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The firm had revenue of $42.95 million for the quarter, compared to analyst estimates of $40.57 million. During the same period last year, the firm earned ($0.34) EPS. The business’s quarterly revenue was up 42.5% compared to the same quarter last year. equities analysts anticipate that Instructure Inc will post -1.75 EPS for the current year.
INST has been the topic of a number of recent research reports. Oppenheimer reaffirmed a “buy” rating and set a $41.00 price target (up from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Jefferies Group raised their target price on shares of Instructure to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. BidaskClub lowered shares of Instructure from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 17th. Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Instructure in a report on Sunday, October 1st. Finally, Zacks Investment Research raised shares of Instructure from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, November 9th. 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. Instructure has a consensus rating of “Buy” and a consensus target price of $38.00.
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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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