Instructure, Inc. (INST) Stake Lifted by Geode Capital Management LLC
Geode Capital Management LLC lifted its stake in shares of Instructure, Inc. (NYSE:INST) by 30.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,470 shares of the technology company’s stock after acquiring an additional 12,750 shares during the period. Geode Capital Management LLC owned 0.19% of Instructure worth $1,274,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. American International Group Inc. raised its holdings 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. Keybank National Association OH raised its holdings in Instructure by 6.9% in the first quarter. Keybank National Association OH now owns 20,252 shares of the technology company’s stock valued at $474,000 after buying an additional 1,300 shares during the period. Kornitzer Capital Management Inc. KS raised its holdings in Instructure by 7.3% in the first quarter. Kornitzer Capital Management Inc. KS now owns 88,100 shares of the technology company’s stock valued at $2,062,000 after buying an additional 6,000 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Instructure in the first quarter valued at approximately $328,000. Finally, Trexquant Investment LP purchased a new position in Instructure in the first quarter valued at approximately $340,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
Instructure, Inc. (NYSE INST) traded up 1.86% on Monday, reaching $30.15. 286,159 shares of the company traded hands. The firm has a 50 day moving average price of $30.73 and a 200 day moving average price of $26.56. Instructure, Inc. has a 52-week low of $17.85 and a 52-week high of $34.10. The stock’s market capitalization is $885.78 million.
Instructure (NYSE:INST) last announced its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. The business had revenue of $38 million during the quarter, compared to analyst estimates of $37.09 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The firm’s revenue was up 46.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) EPS. Equities research analysts predict that Instructure, Inc. will post ($1.24) EPS for the current year.
INST has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $30.00 price target on shares of Instructure in a report on Friday, June 2nd. First Analysis raised their price target on shares of Instructure from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Instructure in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Instructure from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Monday, July 3rd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.63.
In related news, EVP Marc T. Maloy sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $29.11, for a total value of $58,220.00. Following the completion of the sale, the executive vice president now directly owns 13,272 shares in the company, valued at approximately $386,347.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Collins sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $30.64, for a total value of $91,920.00. Following the completion of the sale, the director now owns 6,552 shares of the company’s stock, valued at $200,753.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,000 shares of company stock valued at $812,980. 12.80% of the stock is owned by corporate insiders.
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Instructure Company Profile
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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