Mitch Macfarlane Sells 7,650 Shares of Instructure, Inc. (INST) Stock
Instructure, Inc. (NYSE:INST) COO Mitch Macfarlane sold 7,650 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $30.12, for a total transaction of $230,418.00. Following the completion of the sale, the chief operating officer now owns 12,298 shares of the company’s stock, valued at $370,415.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Instructure, Inc. (INST) opened at 30.30 on Wednesday. Instructure, Inc. has a 12 month low of $17.85 and a 12 month high of $34.10. The company’s market cap is $890.18 million. The company’s 50-day moving average is $30.74 and its 200-day moving average is $26.85.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The business had revenue of $38.00 million during the quarter, compared to the consensus estimate of $37.09 million. During the same quarter last year, the firm posted ($0.44) EPS. The company’s quarterly revenue was up 46.7% on a year-over-year basis. On average, equities research analysts anticipate that Instructure, Inc. will post ($1.24) earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in INST. Janus Henderson Group PLC acquired a new stake in Instructure during the 2nd quarter valued at $34,748,000. Whale Rock Capital Management LLC acquired a new stake in Instructure during the 1st quarter valued at $26,000,000. Nine Ten Capital Management LLC lifted its holdings in Instructure by 60.2% during the 1st quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock valued at $61,568,000 after purchasing an additional 988,396 shares during the last quarter. SQN Investors LP lifted its holdings in Instructure by 89.3% during the 2nd quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after purchasing an additional 633,875 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Instructure by 519.2% during the 2nd quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock valued at $19,605,000 after purchasing an additional 557,255 shares during the last quarter. 78.33% of the stock is owned by institutional investors and hedge funds.
INST has been the subject of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $30.00 price objective on shares of Instructure in a research note on Friday, June 2nd. First Analysis boosted their price objective on shares of Instructure from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $38.00 price objective (up from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research note on Monday, July 3rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $35.63.
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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