Zacks Investment Research Lowers Instructure (INST) to Hold

Zacks Investment Research downgraded shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a research note released on Friday, November 10th.

According to Zacks, “Instructure, Inc. provides cloud-based online education technology. It develops Canvas, a learning management application 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. The company’s platform also provides data analytics that enable real-time reaction to information and benchmarking in order to personalize curricula and increase the efficacy of the learning process. Instructure, Inc. is based in Salt Lake City, Utah. “

Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $39.00 price objective on shares of Instructure in a research report on Sunday, October 1st. BidaskClub cut shares of Instructure from a strong-buy rating to a buy rating in a research note on Saturday, August 5th. Jefferies Group raised their target price on shares of Instructure from $30.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, August 1st. Oppenheimer reissued a buy rating and set a $38.00 target price on shares of Instructure in a research note on Thursday, October 12th. Finally, William Blair assumed coverage on shares of Instructure in a research note on Thursday, October 26th. They set a market perform rating on the stock. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $37.44.

Instructure (NYSE INST) traded down $2.05 during midday trading on Friday, reaching $34.25. 224,100 shares of the company’s stock were exchanged, compared to its average volume of 252,341. Instructure has a 12-month low of $18.80 and a 12-month high of $36.60.

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

In related news, CFO Steven B. Kaminsky sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $35.00, for a total transaction of $437,500.00. Following the completion of the sale, the chief financial officer now directly owns 143,345 shares in the company, valued at $5,017,075. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marc T. Maloy sold 2,000 shares of Instructure stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.66, for a total transaction of $59,320.00. Following the completion of the sale, the executive vice president now owns 13,272 shares of the company’s stock, valued at $393,647.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,517 shares of company stock worth $2,145,543. 12.80% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Instructure by 2.1% in the second quarter. Russell Investments Group Ltd. now owns 19,555 shares of the technology company’s stock valued at $577,000 after purchasing an additional 410 shares during the period. American International Group Inc. increased its position in Instructure by 7.1% during the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after acquiring an additional 426 shares during the period. Strs Ohio increased its position in Instructure by 1.9% during the second quarter. Strs Ohio now owns 26,800 shares of the technology company’s stock worth $790,000 after acquiring an additional 500 shares during the period. Schwab Charles Investment Management Inc. increased its position in Instructure by 3.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 25,367 shares of the technology company’s stock worth $594,000 after acquiring an additional 855 shares during the period. Finally, Alliancebernstein L.P. increased its position in Instructure by 7.6% during the second quarter. Alliancebernstein L.P. now owns 17,000 shares of the technology company’s stock worth $502,000 after acquiring an additional 1,200 shares during the period. 78.90% of the stock is currently owned by institutional investors.

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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.

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