Highbridge Capital Management LLC Raises Position in Instructure, Inc. (INST)
Highbridge Capital Management LLC increased its position in Instructure, Inc. (NYSE:INST) by 26.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,986 shares of the technology company’s stock after purchasing an additional 2,682 shares during the quarter. Highbridge Capital Management LLC’s holdings in Instructure were worth $430,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Instructure by 54.6% in the second 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. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure in the second quarter valued at $184,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure in the first quarter valued at $192,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Instructure in the third quarter valued at $213,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Instructure in the second quarter valued at $247,000. 78.99% of the stock is owned by hedge funds and other institutional investors.
Shares of Instructure, Inc. (NYSE:INST) opened at $34.15 on Monday. Instructure, Inc. has a 12-month low of $18.80 and a 12-month high of $36.60.
In other Instructure news, Director Steven A. Collins sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $33.86, for a total transaction of $169,300.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $169,300. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Marc T. Maloy sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.52, for a total value of $67,040.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,867 shares of company stock worth $2,336,055. Company insiders own 62.50% of the company’s stock.
A number of brokerages have recently weighed in on INST. BidaskClub upgraded Instructure from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th. Zacks Investment Research lowered Instructure from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. William Blair initiated coverage on Instructure in a research report on Thursday, October 26th. They issued a “market perform” rating for the company. Oppenheimer reiterated a “buy” rating and issued a $41.00 price objective (up from $38.00) on shares of Instructure in a research report on Tuesday, October 31st. Finally, Jefferies Group lifted their price objective on Instructure to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.00.
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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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