Great West Life Assurance Co. Can cut its stake in shares of Instructure Inc (NYSE:INST) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,339 shares of the technology company’s stock after selling 275 shares during the period. Great West Life Assurance Co. Can’s holdings in Instructure were worth $91,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INST. Ashburton Jersey Ltd purchased a new position in Instructure during the second quarter valued at $27,000. Aperio Group LLC bought a new stake in Instructure during the second quarter valued at about $58,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Instructure during the second quarter valued at about $63,000. Cubist Systematic Strategies LLC bought a new stake in Instructure during the second quarter valued at about $87,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Instructure during the second quarter valued at about $112,000. Institutional investors own 91.00% of the company’s stock.
A number of equities research analysts have commented on the company. Oppenheimer raised Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 price target on the stock in a report on Monday, August 12th. CIBC raised Instructure from a “market perform” rating to an “outperform” rating and set a $56.00 price target on the stock in a report on Monday, August 12th. ValuEngine raised Instructure from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Needham & Company LLC cut Instructure from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, William Blair reissued a “market perform” rating on shares of Instructure in a report on Monday, August 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.97.
In related news, Director Joshua L. Coates sold 10,000 shares of Instructure stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.67, for a total value of $406,700.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $223,685. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Kaminer sold 5,000 shares of Instructure stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $47.50, for a total value of $237,500.00. Following the completion of the transaction, the insider now owns 46,901 shares of the company’s stock, valued at approximately $2,227,797.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,734 shares of company stock valued at $4,394,699. 9.60% of the stock is currently owned by company insiders.
Shares of INST stock opened at $47.35 on Friday. Instructure Inc has a 12-month low of $33.47 and a 12-month high of $50.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $41.66 and its 200-day moving average price is $41.77. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -38.50 and a beta of 0.47.
Instructure (NYSE:INST) last released its quarterly earnings results on Monday, October 28th. The technology company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $68.08 million. Instructure had a negative return on equity of 44.38% and a negative net margin of 26.64%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) earnings per share. As a group, research analysts predict that Instructure Inc will post -2.1 EPS for the current fiscal year.
Instructure Company Profile
Instructure, Inc provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ-12 and higher education; and Bridge, an employee development and engagement platform. The company's applications enhance academic and corporate learning by providing a system of engagement for teachers and learners, enabling frequent and open interactions, a streamlined workflow, and the creation and sharing of content with anytime, anywhere access to information.
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