Instructure Inc. (INST) CFO Steven B. Kaminsky Sells 2,000 Shares
Instructure Inc. (NYSE:INST) CFO Steven B. Kaminsky sold 2,000 shares of Instructure stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $25.20, for a total value of $50,400.00. Following the completion of the sale, the chief financial officer now owns 264,715 shares in the company, valued at approximately $6,670,818. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Instructure Inc. (NYSE:INST) opened at 25.05 on Thursday. The stock has a 50 day moving average price of $24.31 and a 200-day moving average price of $20.66. Instructure Inc. has a 52 week low of $13.21 and a 52 week high of $26.00. The firm’s market capitalization is $701.02 million.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $25.89 million for the quarter, compared to analysts’ expectations of $24.31 million. Instructure’s revenue was up 62.9% on a year-over-year basis. Equities analysts anticipate that Instructure Inc. will post ($1.73) earnings per share for the current year.
INST has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Instructure from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Raymond James Financial Inc. lifted their target price on Instructure from $28.00 to $30.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded Instructure from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Barrington Research lifted their target price on Instructure from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. Finally, Jefferies Group restated a “buy” rating on shares of Instructure in a research report on Friday, July 22nd. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $26.67.
Several hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. raised its position in shares of Instructure by 118.3% in the second quarter. American International Group Inc. now owns 6,048 shares of the company’s stock valued at $115,000 after buying an additional 3,278 shares during the period. Nationwide Fund Advisors raised its position in shares of Instructure by 97.4% in the second quarter. Nationwide Fund Advisors now owns 6,748 shares of the company’s stock valued at $128,000 after buying an additional 3,329 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Instructure during the second quarter valued at $162,000. Strs Ohio raised its position in shares of Instructure by 570.6% in the second quarter. Strs Ohio now owns 11,400 shares of the company’s stock valued at $216,000 after buying an additional 9,700 shares during the period. Finally, A.R.T. Advisors LLC purchased a new position in shares of Instructure during the second quarter valued at $248,000. 33.79% of the stock is currently owned by institutional investors and hedge funds.
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 engaging face-to-face and online learning experiences.
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