Wells Fargo & Company MN decreased its position in Instructure Inc (NYSE:INST) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 268,648 shares of the technology company’s stock after selling 10,921 shares during the period. Wells Fargo & Company MN’s holdings in Instructure were worth $11,417,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Formula Growth Ltd. increased its position in shares of Instructure by 27.7% during the first quarter. Formula Growth Ltd. now owns 461,637 shares of the technology company’s stock valued at $21,752,000 after purchasing an additional 100,000 shares during the period. SG Americas Securities LLC raised its stake in shares of Instructure by 112.3% in the second quarter. SG Americas Securities LLC now owns 48,545 shares of the technology company’s stock valued at $2,063,000 after purchasing an additional 25,674 shares in the last quarter. First Trust Advisors LP bought a new position in Instructure in the first quarter worth $3,596,000. Gagnon Securities LLC lifted its position in Instructure by 5.8% in the first quarter. Gagnon Securities LLC now owns 320,012 shares of the technology company’s stock worth $15,079,000 after purchasing an additional 17,508 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Instructure by 3.5% during the second quarter. Janus Henderson Group PLC now owns 1,318,762 shares of the technology company’s stock worth $56,047,000 after buying an additional 45,100 shares in the last quarter. 91.38% of the stock is owned by hedge funds and other institutional investors.
In other Instructure news, Director Joshua L. Coates sold 10,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $44.99, for a total transaction of $449,900.00. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $247,445. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven B. Kaminsky sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $41.50, for a total transaction of $830,000.00. Following the completion of the sale, the chief financial officer now owns 181,617 shares of the company’s stock, valued at approximately $7,537,105.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,000 shares of company stock worth $3,299,860. 9.60% of the stock is owned by corporate insiders.
INST has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price target on shares of Instructure in a report on Tuesday, July 30th. Oppenheimer raised shares of Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 target price on the stock in a research note on Monday, August 12th. ValuEngine raised shares of Instructure from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Raymond James cut shares of Instructure from an “outperform” rating to a “market perform” rating and set a $45.20 price target for the company. in a research note on Friday, July 12th. Finally, William Blair reiterated a “market perform” rating on shares of Instructure in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Instructure has a consensus rating of “Buy” and a consensus target price of $47.61.
INST stock traded up $0.56 during trading on Wednesday, hitting $38.75. 2,918 shares of the stock traded hands, compared to its average volume of 309,632. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -31.55 and a beta of 0.45. Instructure Inc has a one year low of $29.48 and a one year high of $50.19. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $40.62 and a 200 day simple moving average of $42.93.
Instructure (NYSE:INST) last issued its quarterly earnings data on Monday, July 29th. The technology company reported ($0.58) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.07. Instructure had a negative net margin of 24.07% and a negative return on equity of 41.15%. The firm had revenue of $62.87 million for the quarter, compared to analysts’ expectations of $62.07 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. As a group, analysts predict that Instructure Inc will post -2.25 earnings per share for the current fiscal year.
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 KÂ12 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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