Atlantic Trust Group LLC Acquires Shares of 33,983 Instructure, Inc. (INST)
Atlantic Trust Group LLC acquired a new position in shares of Instructure, Inc. (NYSE:INST) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,983 shares of the technology company’s stock, valued at approximately $1,002,000. Atlantic Trust Group LLC owned 0.12% of Instructure at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pier Capital LLC grew its stake in Instructure by 66.7% during the 2nd quarter. Pier Capital LLC now owns 200,310 shares of the technology company’s stock valued at $5,909,000 after acquiring an additional 80,181 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Instructure by 3.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,398,948 shares of the technology company’s stock valued at $70,769,000 after buying an additional 84,856 shares in the last quarter. Keybank National Association OH grew its stake in shares of Instructure by 6.1% in the 2nd quarter. Keybank National Association OH now owns 21,490 shares of the technology company’s stock valued at $634,000 after buying an additional 1,238 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Instructure in the 2nd quarter valued at approximately $1,132,000. Finally, Legal & General Group Plc grew its stake in shares of Instructure by 54.6% in the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after buying an additional 1,440 shares in the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.
Instructure, Inc. (NYSE:INST) opened at 30.25 on Monday. Instructure, Inc. has a one year low of $17.85 and a one year high of $34.10. The stock’s 50 day moving average price is $30.75 and its 200-day moving average price is $26.75. The firm’s market capitalization is $888.71 million.
Instructure (NYSE:INST) last issued its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The company had revenue of $38 million during the quarter, compared to the consensus estimate of $37.09 million. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was up 46.7% compared to the same quarter last year. On average, equities research analysts expect that Instructure, Inc. will post ($1.24) EPS for the current fiscal year.
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Several equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. BidaskClub cut Instructure from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Jefferies Group LLC boosted their price target on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. UBS AG reissued an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Instructure in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.63.
In related news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the sale, the executive vice president now directly owns 13,272 shares in the company, valued at approximately $386,347.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William M. Conroy sold 8,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $29.59, for a total value of $236,720.00. Following the completion of the sale, the director now owns 32,031 shares of the company’s stock, valued at $947,797.29. The disclosure for this sale can be found here. Insiders sold a total of 29,000 shares of company stock valued at $872,300 over the last 90 days. 12.80% of the stock is currently owned by corporate insiders.
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 face-to-face and online learning experiences.
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