Instructure Inc. (NYSE:INST) major shareholder Epic Venture Fund Iv, Llc sold 17,772 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $25.59, for a total value of $454,785.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Instructure Inc. (NYSE:INST) opened at 25.37 on Friday. The stock’s market cap is $709.98 million. Instructure Inc. has a 52 week low of $13.21 and a 52 week high of $26.00. The firm has a 50-day moving average price of $24.21 and a 200-day moving average price of $20.48.
Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.08. The firm earned $25.89 million during the quarter, compared to analysts’ expectations of $24.31 million. Instructure’s revenue was up 62.9% on a year-over-year basis. On average, equities analysts anticipate that Instructure Inc. will post ($1.73) earnings per share for the current year.
Several large investors have recently made changes to their positions in INST. JPMorgan Chase & Co. increased its stake in shares of Instructure by 6.7% in the second quarter. JPMorgan Chase & Co. now owns 1,545,238 shares of the company’s stock worth $29,360,000 after buying an additional 96,569 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Instructure by 181.5% in the second quarter. Lord Abbett & CO. LLC now owns 806,284 shares of the company’s stock worth $15,319,000 after buying an additional 519,845 shares in the last quarter. Granahan Investment Management Inc. MA increased its stake in shares of Instructure by 28.6% in the first quarter. Granahan Investment Management Inc. MA now owns 356,889 shares of the company’s stock worth $6,403,000 after buying an additional 79,372 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Instructure by 11.6% in the second quarter. Vanguard Group Inc. now owns 326,672 shares of the company’s stock worth $6,207,000 after buying an additional 33,858 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Instructure by 109.4% in the second quarter. BlackRock Fund Advisors now owns 270,465 shares of the company’s stock worth $5,139,000 after buying an additional 141,302 shares in the last quarter. 33.79% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Instructure from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Thursday, August 4th. Needham & Company LLC increased their price target on Instructure from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating on shares of Instructure in a report on Friday, July 22nd. Raymond James Financial Inc. increased their price target on Instructure from $28.00 to $30.00 and gave the company a “strong-buy” rating in a report on Tuesday, August 2nd. Finally, Barrington Research increased their price target on Instructure from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $26.67.
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 engaging face-to-face and online learning experiences.
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