Zacks Investment Research upgraded shares of Instructure (NYSE:INST) from a sell rating to a hold rating in a research report report published on Wednesday morning. The firm currently has $47.00 price objective on the technology company’s stock.
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. “
INST has been the subject of several other reports. ValuEngine upgraded Instructure from a sell rating to a hold rating in a report on Friday, February 2nd. Morgan Stanley set a $42.00 target price on Instructure and gave the stock a buy rating in a report on Tuesday, February 13th. Oppenheimer upped their target price on Instructure from $41.00 to $43.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. SunTrust Banks upped their target price on Instructure to $47.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Finally, William Blair reiterated a market perform rating on shares of Instructure in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Instructure currently has a consensus rating of Buy and a consensus target price of $43.22.
Shares of INST stock opened at $41.65 on Wednesday. Instructure has a twelve month low of $22.55 and a twelve month high of $46.50.
Instructure (NYSE:INST) last issued its earnings results on Monday, February 12th. The technology company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The firm had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $41.43 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Instructure’s quarterly revenue was up 39.0% compared to the same quarter last year. equities research analysts predict that Instructure will post -1.75 EPS for the current fiscal year.
In related news, CFO Steven B. Kaminsky sold 15,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.50, for a total transaction of $562,500.00. Following the completion of the sale, the chief financial officer now directly owns 159,297 shares in the company, valued at approximately $5,973,637.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew Kaminer sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $36.00, for a total value of $180,000.00. Following the sale, the senior vice president now owns 22,498 shares of the company’s stock, valued at $809,928. The disclosure for this sale can be found here. Insiders have sold a total of 61,945 shares of company stock valued at $2,438,366 over the last 90 days. 10.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of INST. TimesSquare Capital Management LLC purchased a new stake in shares of Instructure during the 4th quarter worth $25,436,000. Pacific Grove Capital LP purchased a new stake in Instructure in the fourth quarter valued at about $4,678,000. New York State Common Retirement Fund raised its stake in Instructure by 540.8% in the third quarter. New York State Common Retirement Fund now owns 146,113 shares of the technology company’s stock valued at $4,844,000 after buying an additional 123,313 shares during the last quarter. Nine Ten Capital Management LLC raised its stake in Instructure by 4.3% in the fourth quarter. Nine Ten Capital Management LLC now owns 2,758,900 shares of the technology company’s stock valued at $91,320,000 after buying an additional 113,576 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Instructure by 32.1% in the fourth quarter. Millennium Management LLC now owns 379,110 shares of the technology company’s stock valued at $12,549,000 after buying an additional 92,045 shares during the last quarter. Hedge funds and other institutional investors own 74.00% of the company’s stock.
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Instructure Company Profile
Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K?12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K?12 schools.
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