Russell Investments Group Ltd. purchased a new stake in Instructure, Inc. (NYSE:INST) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,145 shares of the technology company’s stock, valued at approximately $448,000. Russell Investments Group Ltd. owned 0.07% of Instructure as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hamilton Lane Advisors LLC bought a new stake in shares of Instructure during the first quarter worth about $2,808,000. A.R.T. Advisors LLC acquired a new stake in Instructure during the fourth quarter worth $424,000. Finally, State Street Corp raised its stake in Instructure by 6.8% in the fourth quarter. State Street Corp now owns 161,937 shares of the technology company’s stock worth $3,167,000 after buying an additional 10,348 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.
Shares of Instructure, Inc. (INST) opened at 29.65 on Tuesday. The stock’s market capitalization is $857.39 million. Instructure, Inc. has a 52-week low of $17.85 and a 52-week high of $30.10. The stock has a 50 day moving average price of $26.72 and a 200-day moving average price of $23.58.
Instructure (NYSE:INST) last issued its quarterly earnings data on Monday, May 1st. The technology company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.04. The company had revenue of $34 million for the quarter, compared to analysts’ expectations of $32.96 million. Instructure had a negative return on equity of 385.77% and a negative net margin of 43.24%. The firm’s quarterly revenue was up 45.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. On average, equities research analysts anticipate that Instructure, Inc. will post ($1.27) EPS for the current fiscal year.
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Several equities analysts have recently commented on INST shares. Zacks Investment Research upgraded Instructure from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, April 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Instructure in a research note on Friday, June 2nd. ValuEngine raised Instructure from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $30.00 price target (up previously from $27.00) on shares of Instructure in a report on Thursday, May 4th. Finally, Needham & Company LLC raised their price target on Instructure from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 2nd. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $31.71.
In other news, CFO Steven B. Kaminsky sold 17,781 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $24.59, for a total transaction of $437,234.79. Following the completion of the transaction, the chief financial officer now directly owns 151,064 shares of the company’s stock, valued at $3,714,663.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William M. Conroy sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $25.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 21,094 shares of the company’s stock, valued at $527,350. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,781 shares of company stock worth $1,071,085. Corporate insiders own 12.80% of the company’s stock.
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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