GSA Capital Partners LLP Purchases Shares of 39,973 Instructure, Inc. (INST)
GSA Capital Partners LLP purchased a new stake in Instructure, Inc. (NYSE:INST) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 39,973 shares of the technology company’s stock, valued at approximately $1,179,000. GSA Capital Partners LLP owned about 0.14% of Instructure at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in 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 purchasing an additional 1,440 shares during the last quarter. American International Group Inc. raised its position in Instructure by 7.1% in the 1st quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after purchasing an additional 426 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in Instructure in the 2nd quarter valued at $238,000. Metropolitan Life Insurance Co. NY purchased a new stake in Instructure in the 1st quarter valued at $192,000. Finally, Nationwide Fund Advisors raised its position in Instructure by 98.7% in the 2nd quarter. Nationwide Fund Advisors now owns 12,035 shares of the technology company’s stock valued at $355,000 after purchasing an additional 5,979 shares during the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.
INST has been the subject of several research reports. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $30.00 price objective on shares of Instructure in a research report on Friday, June 2nd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $33.00 price objective (up previously from $30.00) on shares of Instructure in a research report on Friday, June 23rd. SunTrust Banks, Inc. initiated coverage on shares of Instructure in a research report on Monday, June 26th. They set a “buy” rating and a $33.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective for the company in a research report on Monday, July 3rd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $36.00.
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Shares of Instructure, Inc. (NYSE:INST) opened at 34.05 on Thursday. Instructure, Inc. has a 52 week low of $17.85 and a 52 week high of $34.85. The company has a 50-day moving average of $30.79 and a 200-day moving average of $27.22. The firm’s market capitalization is $1.00 billion.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.04. The firm had revenue of $38.00 million for the quarter, compared to analysts’ expectations of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. Instructure’s revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. On average, equities analysts forecast that Instructure, Inc. will post ($1.24) earnings per share for the current fiscal year.
In related news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction that occurred 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 SEC, which can be accessed through the SEC website. Also, Director William M. Conroy sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was 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 36,650 shares of company stock worth $1,102,718 in the last three months. 62.50% of the stock is currently owned by company 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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