Teacher Retirement System of Texas bought a new position in shares of Instructure Inc (NYSE:INST) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,304 shares of the technology company’s stock, valued at approximately $266,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Mercantile Trust Co. purchased a new stake in shares of Instructure during the first quarter worth $139,000. Schwab Charles Investment Management Inc. increased its holdings in Instructure by 32.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 128,162 shares of the technology company’s stock valued at $5,403,000 after buying an additional 31,248 shares during the last quarter. Swiss National Bank boosted its stake in Instructure by 116.6% in the first quarter. Swiss National Bank now owns 49,600 shares of the technology company’s stock valued at $2,091,000 after acquiring an additional 26,700 shares in the last quarter. Trexquant Investment LP boosted its stake in Instructure by 78.2% in the first quarter. Trexquant Investment LP now owns 16,209 shares of the technology company’s stock valued at $683,000 after acquiring an additional 7,115 shares in the last quarter. Finally, Mackay Shields LLC acquired a new position in Instructure in the first quarter valued at $422,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Instructure stock opened at $42.55 on Friday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -24.74 and a beta of 1.03. Instructure Inc has a 52-week low of $28.50 and a 52-week high of $46.95.
Instructure (NYSE:INST) last issued its quarterly earnings results on Monday, April 30th. The technology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. Instructure had a negative net margin of 28.33% and a negative return on equity of 162.98%. The company had revenue of $47.99 million during the quarter, compared to analyst estimates of $47.12 million. During the same period in the prior year, the business posted ($0.33) EPS. The business’s revenue for the quarter was up 39.2% compared to the same quarter last year. equities research analysts predict that Instructure Inc will post -1.62 earnings per share for the current fiscal year.
INST has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Instructure from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 1st. William Blair reaffirmed a “market perform” rating on shares of Instructure in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Instructure from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research note on Wednesday, April 18th. ValuEngine raised shares of Instructure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Barrington Research reaffirmed a “buy” rating and issued a $50.00 target price on shares of Instructure in a research note on Tuesday, May 1st. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Instructure currently has an average rating of “Buy” and a consensus price target of $44.70.
In other Instructure news, SVP Matthew Kaminer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $40.54, for a total value of $202,700.00. Following the transaction, the senior vice president now owns 23,705 shares in the company, valued at approximately $961,000.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven B. Kaminsky sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $40.72, for a total transaction of $610,800.00. Following the completion of the transaction, the chief financial officer now owns 161,299 shares in the company, valued at approximately $6,568,095.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,552 shares of company stock worth $2,497,319. Company insiders own 10.40% of the company’s stock.
Instructure Company Profile
Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K?12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K?12 schools.
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