Instructure Inc. (INST) Stake Held by Insight Holdings Group LLC
Insight Holdings Group LLC continued to hold its position in Instructure Inc. (NYSE:INST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,595,952 shares of the company’s stock at the end of the third quarter. Instructure comprises about 20.0% of Insight Holdings Group LLC’s investment portfolio, making the stock its 2nd largest position. Insight Holdings Group LLC owned 9.28% of Instructure worth $65,859,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INST. Guggenheim Capital LLC raised its position in Instructure by 2.0% in the second quarter. Guggenheim Capital LLC now owns 61,643 shares of the company’s stock worth $1,170,000 after buying an additional 1,201 shares during the period. American International Group Inc. raised its position in Instructure by 118.3% in the second quarter. American International Group Inc. now owns 6,048 shares of the company’s stock worth $115,000 after buying an additional 3,278 shares during the period. Nationwide Fund Advisors raised its position in Instructure by 97.4% in the second quarter. Nationwide Fund Advisors now owns 6,748 shares of the company’s stock worth $128,000 after buying an additional 3,329 shares during the period. Schwab Charles Investment Management Inc. raised its position in Instructure by 46.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 23,062 shares of the company’s stock worth $439,000 after buying an additional 7,310 shares during the period. Finally, Metropolitan Life Insurance Co. NY bought a new position in Instructure during the second quarter worth about $162,000. Hedge funds and other institutional investors own 33.79% of the company’s stock.
Instructure Inc. (NYSE:INST) traded down 0.88% during mid-day trading on Friday, hitting $24.76. The stock had a trading volume of 40,348 shares. The company has a 50 day moving average price of $24.34 and a 200 day moving average price of $20.69. Instructure Inc. has a one year low of $13.21 and a one year high of $26.00. The stock’s market cap is $692.91 million.
Instructure (NYSE:INST) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $25.89 million for the quarter, compared to analyst estimates of $24.31 million. The business’s revenue for the quarter was up 62.9% on a year-over-year basis. On average, equities analysts anticipate that Instructure Inc. will post ($1.73) EPS for the current year.
A number of research firms recently issued reports on INST. Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating on shares of Instructure in a report on Friday, July 22nd. Needham & Company LLC lifted their price target on Instructure from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Raymond James Financial Inc. lifted their price target on Instructure from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 2nd. Finally, Barrington Research lifted their price target on Instructure from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Instructure currently has a consensus rating of “Buy” and a consensus target price of $26.67.
In related news, EVP Marc T. Maloy sold 2,000 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $20.58, for a total value of $41,160.00. Following the completion of the sale, the executive vice president now directly owns 16,443 shares in the company, valued at approximately $338,396.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Adam D. Marcus sold 27,484 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $24.09, for a total value of $662,089.56. The disclosure for this sale can be found here. 62.50% of the stock is owned by corporate insiders.
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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