Instructure, Inc. (INST) Receives Average Recommendation of “Buy” from Analysts
Shares of Instructure, Inc. (NYSE:INST) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.67.
INST has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Instructure from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $39.00 in a research note on Monday, September 18th. William Blair initiated coverage on shares of Instructure in a research note on Thursday, October 26th. They set a “market perform” rating for the company. BidaskClub lowered shares of Instructure from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Jefferies Group boosted their price objective on shares of Instructure to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, Oppenheimer reiterated a “buy” rating and set a $38.00 price objective on shares of Instructure in a research note on Thursday, October 12th.
Instructure (NYSE INST) traded up $0.50 during midday trading on Thursday, hitting $32.55. 266,749 shares of the company traded hands, compared to its average volume of 251,808. Instructure has a 1 year low of $18.80 and a 1 year high of $36.60.
In other Instructure news, COO Mitch Macfarlane sold 7,650 shares of the company’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 transaction, the chief operating officer now owns 12,298 shares in the company, valued at approximately $370,415.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen Levy sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $34.55, for a total transaction of $310,950.00. Following the transaction, the director now owns 17,562 shares in the company, valued at approximately $606,767.10. The disclosure for this sale can be found here. Insiders have sold a total of 70,517 shares of company stock worth $2,397,173 in the last 90 days. 12.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of INST. Public Employees Retirement System of Ohio purchased a new stake in shares of Instructure in the 3rd quarter valued at $1,424,000. California Public Employees Retirement System purchased a new stake in shares of Instructure in the 3rd quarter valued at $351,000. Highbridge Capital Management LLC boosted its holdings in shares of Instructure by 26.0% in the 3rd quarter. Highbridge Capital Management LLC now owns 12,986 shares of the technology company’s stock valued at $430,000 after acquiring an additional 2,682 shares during the last quarter. Gagnon Securities LLC boosted its holdings in shares of Instructure by 46.9% in the 3rd quarter. Gagnon Securities LLC now owns 274,468 shares of the technology company’s stock valued at $9,099,000 after acquiring an additional 87,654 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its holdings in shares of Instructure by 96.7% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 590,000 shares of the technology company’s stock valued at $19,559,000 after acquiring an additional 290,000 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.
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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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