1,177,914 Shares in Instructure, Inc. (INST) Acquired by Janus Henderson Group PLC
Janus Henderson Group PLC purchased a new position in Instructure, Inc. (NYSE:INST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,177,914 shares of the technology company’s stock, valued at approximately $34,748,000. Janus Henderson Group PLC owned 4.01% of Instructure as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in INST. Whale Rock Capital Management LLC purchased a new stake in shares of Instructure in the 1st quarter worth approximately $26,000,000. Nine Ten Capital Management LLC lifted its position in shares of Instructure by 60.2% in the 1st quarter. Nine Ten Capital Management LLC now owns 2,631,124 shares of the technology company’s stock worth $61,568,000 after purchasing an additional 988,396 shares during the period. SQN Investors LP lifted its position in shares of Instructure by 89.3% in the 2nd quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock worth $39,646,000 after purchasing an additional 633,875 shares during the period. Renaissance Technologies LLC lifted its position in shares of Instructure by 519.2% in the 2nd quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock worth $19,605,000 after purchasing an additional 557,255 shares during the period. Finally, FMR LLC lifted its position in shares of Instructure by 45.9% in the 2nd quarter. FMR LLC now owns 875,150 shares of the technology company’s stock worth $25,817,000 after purchasing an additional 275,150 shares during the period. 78.33% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Mitch Macfarlane sold 7,650 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.12, for a total transaction of $230,418.00. Following the completion of the sale, the chief operating officer now owns 12,298 shares in the company, valued at approximately $370,415.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $31.70, for a total transaction of $63,400.00. Following the sale, the executive vice president now owns 13,272 shares of the company’s stock, valued at approximately $420,722.40. The disclosure for this sale can be found here. Insiders sold 18,650 shares of company stock valued at $574,818 in the last quarter. 12.80% of the stock is owned by insiders.
Several brokerages have recently weighed in on INST. Jefferies Group LLC upped their price target on shares of Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. BidaskClub cut shares of Instructure from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $38.00 target price on shares of Instructure in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. assumed coverage on shares of Instructure in a research report on Monday, June 26th. They set a “buy” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $36.00.
Shares of Instructure, Inc. (NYSE:INST) opened at 34.10 on Tuesday. Instructure, Inc. has a 52-week low of $17.85 and a 52-week high of $35.60. The stock’s market cap is $1.00 billion. The company’s 50-day moving average is $32.31 and its 200-day moving average is $28.53.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. Instructure had a negative net margin of 38.12% and a negative return on equity of 827.22%. The company had revenue of $38.00 million during the quarter, compared to the consensus estimate of $37.09 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. The firm’s quarterly revenue was up 46.7% on a year-over-year basis. Equities analysts anticipate that Instructure, Inc. will post ($1.24) EPS for the current year.
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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