Instructure, Inc. (NYSE:INST) posted its earnings results on Monday, July 31st. The technology company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.04, Morningstar.com reports. Instructure had a negative return on equity of 827.22% and a negative net margin of 38.12%. The business had revenue of $38 million for the quarter, compared to analysts’ expectations of $37.09 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. The business’s revenue was up 46.7% compared to the same quarter last year. Instructure updated its Q3 guidance to ($0.32)-(0.30) EPS and its FY17 guidance to ($1.26)-(1.23) EPS.
Instructure (NYSE INST) opened at 31.35 on Friday. The firm’s market cap is $921.03 million. Instructure has a 12 month low of $17.85 and a 12 month high of $34.10. The company has a 50-day moving average price of $30.41 and a 200 day moving average price of $26.01.
A number of analysts have recently commented on INST shares. Needham & Company LLC lifted their target price on Instructure from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC lifted their target price on Instructure from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $30.00 target price (up previously from $27.00) on shares of Instructure in a research report on Thursday, May 4th. Zacks Investment Research cut Instructure from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Finally, ValuEngine upgraded Instructure from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.63.
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In other Instructure news, Director William M. Conroy sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $29.59, for a total value of $236,720.00. Following the sale, the director now owns 32,031 shares in the company, valued at $947,797.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven B. Kaminsky sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 150,459 shares in the company, valued at approximately $4,513,770. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,000 shares of company stock worth $750,260. 62.50% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in Instructure by 2.1% in the second quarter. Russell Investments Group Ltd. now owns 19,555 shares of the technology company’s stock worth $577,000 after buying an additional 410 shares in the last quarter. American International Group Inc. raised its position in Instructure by 7.1% in the first quarter. American International Group Inc. now owns 6,466 shares of the technology company’s stock worth $151,000 after buying an additional 426 shares in the last quarter. Strs Ohio raised its position in Instructure by 1.9% in the second quarter. Strs Ohio now owns 26,800 shares of the technology company’s stock worth $790,000 after buying an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Instructure by 3.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 25,367 shares of the technology company’s stock worth $594,000 after buying an additional 855 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Instructure by 7.6% in the second quarter. Alliancebernstein L.P. now owns 17,000 shares of the technology company’s stock worth $502,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 62.15% of the company’s stock.
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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