Instructure Inc (INST) Expected to Post Quarterly Sales of $47.07 Million

Wall Street analysts expect that Instructure Inc (NYSE:INST) will announce sales of $47.07 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Instructure’s earnings. The lowest sales estimate is $46.92 million and the highest is $47.18 million. Instructure posted sales of $33.98 million in the same quarter last year, which suggests a positive year-over-year growth rate of 38.5%. The business is scheduled to issue its next earnings report on Monday, May 7th.

On average, analysts expect that Instructure will report full-year sales of $47.07 million for the current fiscal year, with estimates ranging from $206.28 million to $208.01 million. For the next financial year, analysts anticipate that the company will post sales of $262.19 million per share, with estimates ranging from $257.17 million to $270.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Instructure.

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Instructure (NYSE:INST) last released its quarterly earnings data on Monday, February 12th. The technology company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The firm had revenue of $43.80 million for the quarter, compared to the consensus estimate of $41.43 million. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share.

INST has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Instructure from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. ValuEngine upgraded shares of Instructure from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Oppenheimer lifted their price target on shares of Instructure from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. SunTrust Banks lifted their price target on shares of Instructure to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, William Blair reiterated a “market perform” rating on shares of Instructure in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.33.

NYSE:INST traded down $1.25 on Friday, reaching $40.75. 152,142 shares of the stock traded hands, compared to its average volume of 249,107. The firm has a market cap of $1,359.42, a P/E ratio of -23.69 and a beta of 0.99. Instructure has a 12 month low of $22.00 and a 12 month high of $46.50.

In related news, Director Ellen Levy sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $43.03, for a total value of $258,180.00. Following the transaction, the director now owns 11,562 shares of the company’s stock, valued at $497,512.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven B. Kaminsky sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was 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 directly owns 161,299 shares in the company, valued at approximately $6,568,095.28. The disclosure for this sale can be found here. Insiders sold 61,945 shares of company stock valued at $2,438,366 over the last quarter. Company insiders own 62.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maple Rock Capital Partners Inc. boosted its holdings in shares of Instructure by 96.7% in the third quarter. Maple Rock Capital Partners Inc. now owns 590,000 shares of the technology company’s stock worth $19,559,000 after buying an additional 290,000 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Instructure in the fourth quarter worth approximately $853,000. TimesSquare Capital Management LLC purchased a new position in shares of Instructure in the fourth quarter worth approximately $25,436,000. Citadel Advisors LLC boosted its holdings in shares of Instructure by 238.8% in the fourth quarter. Citadel Advisors LLC now owns 79,482 shares of the technology company’s stock worth $2,631,000 after buying an additional 56,023 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Instructure by 8.5% in the third quarter. Bank of New York Mellon Corp now owns 112,835 shares of the technology company’s stock worth $3,741,000 after buying an additional 8,815 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors.

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About Instructure

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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