Instructure Inc. (INST) CEO Joshua L. Coates Buys 5,500 Shares
Instructure Inc. (NYSE:INST) CEO Joshua L. Coates acquired 5,500 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was acquired at an average cost of $18.80 per share, with a total value of $103,400.00. Following the completion of the acquisition, the chief executive officer now owns 5,500 shares in the company, valued at approximately $103,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Instructure Inc. (NYSE:INST) opened at 18.75 on Wednesday. The stock’s 50 day moving average is $23.53 and its 200 day moving average is $21.65. Instructure Inc. has a 52-week low of $13.21 and a 52-week high of $26.92. The stock’s market cap is $529.59 million.
Instructure (NYSE:INST) last announced its earnings results on Monday, October 31st. The company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.08. Instructure had a negative net margin of 52.18% and a negative return on equity of 171.74%. The business earned $30.10 million during the quarter, compared to analysts’ expectations of $30.28 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The firm’s revenue was up 44.3% on a year-over-year basis. Equities research analysts forecast that Instructure Inc. will post ($1.62) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in INST. Wall Street Associates boosted its stake in shares of Instructure by 40.1% in the second quarter. Wall Street Associates now owns 154,700 shares of the company’s stock worth $2,939,000 after buying an additional 44,300 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Instructure by 238.3% in the second quarter. Teachers Advisors Inc. now owns 16,972 shares of the company’s stock worth $322,000 after buying an additional 11,955 shares in the last quarter. American International Group Inc. boosted its stake 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 worth $115,000 after buying an additional 3,278 shares in the last quarter. Gagnon Securities LLC acquired a new stake in shares of Instructure during the second quarter worth approximately $376,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Instructure by 84.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 81,659 shares of the company’s stock worth $1,552,000 after buying an additional 37,386 shares in the last quarter. 35.27% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. Barrington Research raised their price objective on shares of Instructure from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Jefferies Group raised their price objective on shares of Instructure from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Instructure from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Instructure in a report on Wednesday, September 7th. Finally, Raymond James Financial Inc. reissued a “market perform” rating and issued a $23.00 price target (down from $30.00) on shares of Instructure in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Instructure presently has an average rating of “Buy” and an average target price of $25.44.
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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