Bank of New York Mellon Corp Boosts Stake in Instructure, Inc. (INST)

Bank of New York Mellon Corp lifted its position in shares of Instructure, Inc. (NYSE:INST) by 69.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,020 shares of the technology company’s stock after buying an additional 42,493 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Instructure worth $3,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Instructure by 119.4% during the second quarter. Rhumbline Advisers now owns 23,532 shares of the technology company’s stock worth $694,000 after buying an additional 12,805 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Instructure by 74.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 44,162 shares of the technology company’s stock worth $1,303,000 after buying an additional 18,795 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Instructure during the second quarter worth $1,162,000. Essex Investment Management Co. LLC acquired a new stake in shares of Instructure during the second quarter worth $238,000. Finally, Strs Ohio lifted its holdings in shares of Instructure by 1.9% during the second quarter. Strs Ohio now owns 26,800 shares of the technology company’s stock worth $790,000 after buying an additional 500 shares in the last quarter. 78.33% of the stock is owned by institutional investors.

Instructure, Inc. (NYSE:INST) opened at 34.70 on Tuesday. The firm’s market cap is $1.02 billion. Instructure, Inc. has a 1-year low of $17.85 and a 1-year high of $34.85. The company has a 50-day moving average price of $31.92 and a 200-day moving average price of $28.24.

Instructure (NYSE:INST) last released its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $38.00 million for the quarter, compared to analyst estimates of $37.09 million. During the same period in the previous year, the company posted ($0.44) earnings per share. The firm’s revenue was up 46.7% on a year-over-year basis. On average, equities research analysts forecast that Instructure, Inc. will post ($1.24) EPS for the current fiscal year.

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INST has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $39.00 target price on shares of Instructure in a report on Sunday, October 1st. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Tuesday, August 8th. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Jefferies Group LLC lifted their target price on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. initiated coverage on Instructure in a report on Monday, June 26th. They set a “buy” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $36.00.

In other Instructure news, Director William M. Conroy sold 8,000 shares of Instructure stock in a transaction on Monday, July 17th. The stock was sold at an average price of $29.59, for a total transaction of $236,720.00. Following the completion of the transaction, the director now owns 32,031 shares in the company, valued at $947,797.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc T. Maloy sold 2,000 shares of Instructure stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $31.70, for a total value of $63,400.00. Following the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at approximately $420,722.40. The disclosure for this sale can be found NYSE:INST) opened at 34.70 on Tuesday. The firm’s market cap is $1.02 billion. Instructure, Inc. has a 1-year low of $17.85 and a 1-year high of $34.85. The company has a 50-day moving average price of $31.92 and a 200-day moving average price of $28.24.

Instructure (NYSE:INST) last released its quarterly earnings results on Monday, July 31st. The technology company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $38.00 million for the quarter, compared to analyst estimates of $37.09 million. During the same period in the previous year, the company posted ($0.44) earnings per share. The firm’s revenue was up 46.7% on a year-over-year basis. On average, equities research analysts forecast that Instructure, Inc. will post ($1.24) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/bank-of-new-york-mellon-corp-boosts-stake-in-instructure-inc-inst.html.

INST has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $39.00 target price on shares of Instructure in a report on Sunday, October 1st. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Tuesday, August 8th. BidaskClub downgraded Instructure from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 5th. Jefferies Group LLC lifted their target price on Instructure from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. initiated coverage on Instructure in a report on Monday, June 26th. They set a “buy” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $36.00.

In other Instructure news, Director William M. Conroy sold 8,000 shares of Instructure stock in a transaction on Monday, July 17th. The stock was sold at an average price of $29.59, for a total transaction of $236,720.00. Following the completion of the transaction, the director now owns 32,031 shares in the company, valued at $947,797.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc T. Maloy sold 2,000 shares of Instructure stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $31.70, for a total value of $63,400.00. Following the transaction, the executive vice president now owns 13,272 shares of the company’s stock, valued at approximately $420,722.40. The disclosure for this sale can be found here. Insiders have sold 36,650 shares of company stock worth $1,111,538 over the last 90 days. 12.80% of the stock is currently owned by corporate insiders.

About Instructure

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.

Institutional Ownership by Quarter for Instructure (NYSE:INST)

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