Keybank National Association OH lessened its position in shares of Instructure, Inc. (NYSE:INST) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,650 shares of the technology company’s stock after selling 5,840 shares during the period. Keybank National Association OH owned about 0.05% of Instructure worth $519,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after buying an additional 1,440 shares during the last quarter. American International Group Inc. raised its position in shares of Instructure by 7.1% during the 1st quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after purchasing an additional 426 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Instructure during the 2nd quarter worth approximately $184,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Instructure during the 1st quarter worth approximately $192,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Instructure during the 2nd quarter worth approximately $238,000. 77.93% of the stock is currently owned by institutional investors.
In related news, COO Mitch Macfarlane sold 7,650 shares of Instructure stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.12, for a total transaction of $230,418.00. Following the sale, the chief operating officer now directly owns 12,298 shares of the company’s stock, valued at $370,415.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Matthew Kaminer sold 2,000 shares of Instructure stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $31.36, for a total value of $62,720.00. Following the sale, the senior vice president now directly owns 18,008 shares in the company, valued at $564,730.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,517 shares of company stock worth $2,208,263. 62.50% of the stock is owned by insiders.
Shares of Instructure, Inc. (NYSE INST) opened at $34.35 on Friday. Instructure, Inc. has a 1 year low of $18.80 and a 1 year high of $36.00.
Instructure (NYSE:INST) last posted its earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.04. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. The firm had revenue of $42.95 million for the quarter, compared to analysts’ expectations of $40.57 million. During the same period last year, the firm earned ($0.34) EPS. The firm’s revenue was up 42.5% compared to the same quarter last year. analysts forecast that Instructure, Inc. will post -1.75 EPS for the current fiscal year.
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INST has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $39.00 price target on shares of Instructure in a research report on Sunday, October 1st. Zacks Investment Research upgraded Instructure from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, August 8th. BidaskClub cut Instructure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC raised their target price on Instructure from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $38.00 target price on shares of Instructure in a research report on Thursday, October 12th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Instructure has an average rating of “Buy” and a consensus target price of $37.44.
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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