Goldman Sachs Group Inc. Takes Position in Instructure, Inc. (NYSE:INST)
Goldman Sachs Group Inc. purchased a new stake in Instructure, Inc. (NYSE:INST) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,522 shares of the technology company’s stock, valued at approximately $1,065,000. Goldman Sachs Group Inc. owned about 0.16% of Instructure as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INST. American International Group Inc. increased its position in Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock valued at $151,000 after buying an additional 426 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Instructure during the first quarter valued at $192,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Instructure during the first quarter valued at $328,000. Trexquant Investment LP purchased a new position in shares of Instructure during the first quarter valued at $340,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Instructure during the first quarter valued at $367,000. 65.15% of the stock is owned by institutional investors and hedge funds.
Shares of Instructure, Inc. (NYSE INST) traded up 0.34% on Friday, reaching $29.70. 353,861 shares of the company traded hands. The company’s market capitalization is $872.56 million. Instructure, Inc. has a 52-week low of $17.85 and a 52-week high of $34.10. The firm has a 50-day moving average of $30.20 and a 200-day moving average of $25.69.
Instructure (NYSE:INST) last announced its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The business had revenue of $38 million during the quarter, compared to the consensus estimate of $37.09 million. During the same period in the prior year, the business posted ($0.44) earnings per share. Instructure’s revenue was up 46.7% compared to the same quarter last year. On average, equities research analysts forecast that Instructure, Inc. will post ($1.24) earnings per share for the current fiscal year.
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Several research analysts recently weighed in on INST shares. Jefferies Group LLC reissued a “buy” rating and issued a $30.00 target price on shares of Instructure in a research note on Friday, June 2nd. First Analysis boosted their target price on shares of Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Monday, July 3rd. ValuEngine raised shares of Instructure from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $38.00 target price (up previously from $33.00) on shares of Instructure in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.63.
In other news, EVP Marc T. Maloy sold 2,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.11, for a total transaction of $58,220.00. Following the completion of the sale, the executive vice president now directly owns 13,272 shares of the company’s stock, valued at $386,347.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven B. Kaminsky sold 10,000 shares of the company’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 150,459 shares of the company’s stock, valued at $4,513,770. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock valued at $750,260. 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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