Public Employees Retirement Association of Colorado bought a new position in Instructure Inc (NYSE:INST) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,639 shares of the technology company’s stock, valued at approximately $200,000.
Other hedge funds also recently added to or reduced their stakes in the company. EastBay Asset Management LLC purchased a new position in shares of Instructure in the third quarter worth $12,114,000. Voya Investment Management LLC lifted its holdings in shares of Instructure by 5,104.5% in the second quarter. Voya Investment Management LLC now owns 485,322 shares of the technology company’s stock worth $20,650,000 after buying an additional 475,997 shares in the last quarter. Pacific Grove Capital LP lifted its holdings in shares of Instructure by 105.0% in the second quarter. Pacific Grove Capital LP now owns 82,000 shares of the technology company’s stock worth $3,489,000 after buying an additional 42,000 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Instructure by 121.5% in the second quarter. Great West Life Assurance Co. Can now owns 3,101 shares of the technology company’s stock worth $132,000 after buying an additional 1,701 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Instructure by 45.9% in the second quarter. BlackRock Inc. now owns 2,048,534 shares of the technology company’s stock worth $87,166,000 after buying an additional 644,946 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the stock. Macquarie downgraded shares of Instructure from an “outperform” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Thursday, July 19th. Needham & Company LLC boosted their target price on shares of Instructure from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Citigroup assumed coverage on shares of Instructure in a report on Monday, July 16th. They issued a “buy” rating and a $55.00 target price on the stock. Oppenheimer reissued a “market perform” rating and issued a $41.00 target price on shares of Instructure in a report on Tuesday, July 31st. Finally, MED downgraded shares of Instructure from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 31st. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Instructure presently has a consensus rating of “Buy” and an average target price of $47.10.
Shares of INST opened at $37.06 on Friday. Instructure Inc has a fifty-two week low of $29.48 and a fifty-two week high of $49.17. The firm has a market capitalization of $1.24 billion, a P/E ratio of -21.55 and a beta of 0.90.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, October 29th. The technology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.26. Instructure had a negative net margin of 24.15% and a negative return on equity of 54.63%. The company had revenue of $55.24 million for the quarter, compared to analysts’ expectations of $53.93 million. During the same quarter in the previous year, the business posted ($0.24) earnings per share. Instructure’s quarterly revenue was up 27.9% on a year-over-year basis. On average, analysts forecast that Instructure Inc will post -1.4 EPS for the current fiscal year.
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 K12 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 K12 schools.
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