Instructure (INST) Earns Outperform Rating from Analysts at Macquarie

Macquarie initiated coverage on shares of Instructure (NYSE:INST) in a research report released on Thursday, December 7th, MarketBeat reports. The brokerage issued an outperform rating and a $41.00 price objective on the technology company’s stock.

Several other research firms also recently issued reports on INST. Morgan Stanley raised Instructure from an equal weight rating to an overweight rating and lifted their price target for the stock from $35.00 to $39.00 in a research note on Monday, September 18th. BidaskClub downgraded shares of Instructure from a buy rating to a hold rating in a research note on Thursday, November 9th. William Blair started coverage on shares of Instructure in a research note on Thursday, October 26th. They issued a market perform rating for the company. Jefferies Group boosted their target price on shares of Instructure to $43.00 and gave the company a buy rating in a research note on Tuesday, October 31st. Finally, Oppenheimer reissued a buy rating and issued a $41.00 target price on shares of Instructure in a research note on Wednesday, December 6th. Four analysts have 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 stock has an average rating of Buy and a consensus target price of $38.00.

Instructure (NYSE:INST) traded down $0.80 during mid-day trading on Thursday, reaching $33.10. 167,246 shares of the company’s stock were exchanged, compared to its average volume of 148,942. Instructure has a 12 month low of $19.25 and a 12 month high of $36.60. The firm has a market capitalization of $1,009.38, a PE ratio of -18.70 and a beta of 1.77.

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

In other news, SVP Matthew Kaminer sold 3,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $34.61, for a total transaction of $103,830.00. Following the completion of the transaction, the senior vice president now directly owns 16,146 shares in the company, valued at approximately $558,813.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven A. Collins sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $33.86, for a total value of $169,300.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $169,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,867 shares of company stock valued at $2,336,055. 62.50% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new stake in shares of Instructure during the 2nd quarter valued at approximately $34,748,000. SQN Investors LP raised its position in shares of Instructure by 89.3% during the 2nd quarter. SQN Investors LP now owns 1,343,919 shares of the technology company’s stock valued at $39,646,000 after acquiring an additional 633,875 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Instructure by 519.2% during the 2nd quarter. Renaissance Technologies LLC now owns 664,590 shares of the technology company’s stock valued at $19,605,000 after acquiring an additional 557,255 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Instructure by 269.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 430,868 shares of the technology company’s stock valued at $14,283,000 after acquiring an additional 314,120 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Instructure by 27.6% in the second quarter. Whale Rock Capital Management LLC now owns 1,418,086 shares of the technology company’s stock worth $41,834,000 after buying an additional 306,964 shares during the period. Institutional investors own 78.99% of the company’s stock.

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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.

Analyst Recommendations for Instructure (NYSE:INST)

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