Allianz Asset Management GmbH decreased its position in Instructure Inc (NYSE:INST) by 3.8% during the fourth quarter, Holdings Channel reports. The fund owned 414,463 shares of the technology company’s stock after selling 16,405 shares during the quarter. Allianz Asset Management GmbH’s holdings in Instructure were worth $13,719,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in INST. Oppenheimer Asset Management Inc. purchased a new position in shares of Instructure in the 3rd quarter worth approximately $213,000. Voya Investment Management LLC purchased a new position in shares of Instructure in the 2nd quarter worth approximately $275,000. California Public Employees Retirement System purchased a new position in shares of Instructure in the 3rd quarter worth approximately $351,000. Highbridge Capital Management LLC boosted its holdings in shares of Instructure by 26.0% in the 3rd quarter. Highbridge Capital Management LLC now owns 12,986 shares of the technology company’s stock worth $430,000 after purchasing an additional 2,682 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of Instructure by 89.6% in the 3rd quarter. Quantbot Technologies LP now owns 15,901 shares of the technology company’s stock worth $527,000 after purchasing an additional 7,516 shares during the period. 74.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William M. Conroy sold 5,500 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $45.88, for a total transaction of $252,340.00. Following the completion of the transaction, the director now owns 33,197 shares in the company, valued at approximately $1,523,078.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Matthew Kaminer sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $36.00, for a total value of $180,000.00. Following the transaction, the senior vice president now owns 22,498 shares of the company’s stock, valued at approximately $809,928. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,945 shares of company stock valued at $1,624,866. 62.50% of the stock is owned by company insiders.
Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, February 12th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.02. Instructure had a negative return on equity of 827.22% and a negative net margin of 31.37%. The company had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $41.43 million. During the same quarter in the previous year, the business earned ($0.35) EPS. Instructure’s revenue was up 39.0% compared to the same quarter last year. analysts forecast that Instructure Inc will post -1.77 earnings per share for the current year.
A number of brokerages have recently commented on INST. Oppenheimer lifted their target price on Instructure from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. William Blair reiterated a “market perform” rating on shares of Instructure in a report on Tuesday, February 13th. Needham & Company LLC lifted their target price on Instructure from $39.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 13th. SunTrust Banks lifted their target price on Instructure to $47.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Morgan Stanley set a $42.00 target price on Instructure and gave the stock a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.60.
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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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