Ameriprise Financial Inc. Trims Position in Instructure Inc (NYSE:INST)

Ameriprise Financial Inc. lessened its stake in shares of Instructure Inc (NYSE:INST) by 11.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 65,266 shares of the technology company’s stock after selling 8,264 shares during the period. Ameriprise Financial Inc. owned about 0.22% of Instructure worth $2,163,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Instructure by 2.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 19,555 shares of the technology company’s stock valued at $577,000 after acquiring an additional 410 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Instructure by 7.6% in the second quarter. Alliancebernstein L.P. now owns 17,000 shares of the technology company’s stock valued at $502,000 after purchasing an additional 1,200 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Instructure by 6.1% in the second quarter. Keybank National Association OH now owns 21,490 shares of the technology company’s stock valued at $634,000 after purchasing an additional 1,238 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Instructure by 54.6% in the second quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock valued at $121,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Wasatch Advisors Inc. lifted its holdings in shares of Instructure by 2.6% in the second quarter. Wasatch Advisors Inc. now owns 221,702 shares of the technology company’s stock valued at $6,540,000 after purchasing an additional 5,717 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

Instructure Inc (NYSE:INST) opened at $34.25 on Friday. Instructure Inc has a 1 year low of $20.30 and a 1 year high of $36.60.

Instructure (NYSE:INST) last posted its earnings results on Monday, October 30th. The technology company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.04. The firm had revenue of $42.95 million for the quarter, compared to the consensus estimate of $40.57 million. Instructure had a negative net margin of 34.82% and a negative return on equity of 827.22%. The business’s quarterly revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) earnings per share. analysts predict that Instructure Inc will post -1.75 earnings per share for the current year.

In other news, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $35.00, for a total value of $437,500.00. Following the sale, the chief financial officer now directly owns 143,345 shares of the company’s stock, valued at $5,017,075. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven A. Collins sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $33.86, for a total value of $169,300.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $169,300. The disclosure for this sale can be found here. Insiders have sold 65,867 shares of company stock worth $2,269,015 over the last three months. Company insiders own 62.50% of the company’s stock.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Instructure from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th. Zacks Investment Research lowered Instructure from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. William Blair assumed coverage on Instructure in a report on Thursday, October 26th. They issued a “market perform” rating for the company. Oppenheimer restated a “buy” rating and issued a $41.00 target price (up previously from $38.00) on shares of Instructure in a report on Tuesday, October 31st. Finally, Jefferies Group increased their target price on Instructure to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.00.

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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.

Institutional Ownership by Quarter for Instructure (NYSE:INST)

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