Shares of Instructure, Inc. (NYSE:INST) have received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.00.
A number of equities analysts recently commented on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Instructure in a report on Wednesday, November 2nd. Needham & Company LLC raised Instructure from a “buy” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Thursday, December 1st. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Saturday, November 5th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating and set a $23.00 price target (down from $30.00) on shares of Instructure in a report on Tuesday, November 1st.
In other news, major shareholder Zions Sbic Llc sold 63,233 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $19.92, for a total transaction of $1,259,601.36. Following the completion of the transaction, the insider now owns 960,752 shares in the company, valued at $19,138,179.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Epic Venture Fund Iv, Llc sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $26.68, for a total value of $1,067,200.00. The disclosure for this sale can be found here. Company insiders own 62.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Instructure by 16.9% in the third quarter. JPMorgan Chase & Co. now owns 1,806,228 shares of the company’s stock worth $45,825,000 after buying an additional 260,990 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Instructure by 8.7% in the third quarter. Wells Fargo & Company MN now owns 237,260 shares of the company’s stock worth $6,020,000 after buying an additional 18,950 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Instructure by 102.9% in the second quarter. California State Teachers Retirement System now owns 22,030 shares of the company’s stock worth $419,000 after buying an additional 11,173 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Instructure by 80.8% in the second quarter. Bank of New York Mellon Corp now owns 24,888 shares of the company’s stock worth $473,000 after buying an additional 11,124 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Instructure by 119.3% in the third quarter. Strs Ohio now owns 25,000 shares of the company’s stock worth $634,000 after buying an additional 13,600 shares during the last quarter. Hedge funds and other institutional investors own 49.31% of the company’s stock.
Instructure (NYSE:INST) traded down 0.23% during trading on Wednesday, hitting $21.35. The stock had a trading volume of 43,362 shares. Instructure has a 52-week low of $13.21 and a 52-week high of $26.92. The firm’s market cap is $603.03 million. The company has a 50-day moving average of $19.92 and a 200 day moving average of $22.16.
Instructure (NYSE:INST) last announced its earnings results on Monday, October 31st. The company reported ($0.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.08. Instructure had a negative return on equity of 171.74% and a negative net margin of 52.18%. The company had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $30.28 million. During the same period last year, the firm earned ($0.43) EPS. Instructure’s revenue for the quarter was up 44.3% compared to the same quarter last year. On average, equities research analysts predict that Instructure will post ($1.62) earnings per share for the current fiscal year.
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 engaging face-to-face and online learning experiences.