First Analysis lowered shares of Instructure (NYSE:INST) from an outperform rating to a neutral rating in a report issued on Wednesday, The Fly reports.
A number of other analysts have also recently commented on the company. Zacks Investment Research raised Instructure from a hold rating to a buy rating and set a $50.00 price target for the company in a research report on Friday, November 1st. CIBC upgraded Instructure from a market perform rating to an outperform rating and set a $56.00 price objective for the company in a research note on Monday, August 12th. ValuEngine raised Instructure from a hold rating to a buy rating in a report on Friday, November 1st. DA Davidson reaffirmed a buy rating on shares of Instructure in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a hold rating on shares of Instructure in a research report on Monday, November 18th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Instructure presently has a consensus rating of Hold and a consensus target price of $48.45.
Shares of NYSE INST traded up $0.33 during midday trading on Wednesday, reaching $49.12. The company had a trading volume of 2,536,705 shares, compared to its average volume of 476,636. Instructure has a 1 year low of $33.47 and a 1 year high of $54.31. The business’s 50-day simple moving average is $48.42 and its 200 day simple moving average is $42.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.85 billion, a P/E ratio of -39.93 and a beta of 0.52.
Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, October 28th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.08. Instructure had a negative net margin of 26.64% and a negative return on equity of 44.38%. The firm had revenue of $68.30 million for the quarter, compared to analyst estimates of $68.08 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. Analysts predict that Instructure will post -2.1 earnings per share for the current year.
In related news, CFO Steven B. Kaminsky sold 20,000 shares of Instructure stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $41.43, for a total transaction of $828,600.00. Following the completion of the transaction, the chief financial officer now directly owns 183,817 shares in the company, valued at $7,615,538.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joshua L. Coates sold 1,242 shares of Instructure stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $44.97, for a total value of $55,852.74. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at $247,335. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,398 shares of company stock worth $9,056,108. 9.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Instructure by 0.8% during the third quarter. Rhumbline Advisers now owns 45,113 shares of the technology company’s stock worth $1,748,000 after buying an additional 338 shares in the last quarter. Royal Bank of Canada raised its position in shares of Instructure by 1.3% in the second quarter. Royal Bank of Canada now owns 27,796 shares of the technology company’s stock worth $1,181,000 after acquiring an additional 355 shares during the period. United Services Automobile Association raised its position in shares of Instructure by 12.6% in the second quarter. United Services Automobile Association now owns 4,930 shares of the technology company’s stock worth $210,000 after acquiring an additional 551 shares during the period. Ashburton Jersey Ltd purchased a new stake in shares of Instructure during the 2nd quarter worth about $27,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Instructure by 100.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,040 shares of the technology company’s stock worth $79,000 after acquiring an additional 1,020 shares in the last quarter. 95.01% of the stock is currently owned by institutional investors and hedge funds.
Instructure Company Profile
Instructure, Inc provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ-12 and higher education; and Bridge, an employee development and engagement platform. The company's applications enhance academic and corporate learning by providing a system of engagement for teachers and learners, enabling frequent and open interactions, a streamlined workflow, and the creation and sharing of content with anytime, anywhere access to information.
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