Instructure (NYSE:INST) Price Target Lowered to $47.60 at DA Davidson

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Instructure (NYSE:INST) had its price objective decreased by DA Davidson from $55.00 to $47.60 in a report released on Thursday, The Fly reports. DA Davidson currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Citigroup cut shares of Instructure from a buy rating to a neutral rating and lowered their price objective for the stock from $55.00 to $47.60 in a research report on Thursday. Barrington Research downgraded shares of Instructure from an outperform rating to a market perform rating in a research note on Thursday. William Blair restated a market perform rating on shares of Instructure in a research report on Monday, August 12th. Zacks Investment Research raised shares of Instructure from a hold rating to a buy rating and set a $50.00 target price on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a hold rating on shares of Instructure in a report on Monday, November 18th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $48.45.

Instructure stock opened at $49.12 on Thursday. Instructure has a 12-month low of $33.47 and a 12-month high of $54.31. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $48.42 and its two-hundred day moving average price is $42.84. The stock has a market cap of $1.83 billion, a PE ratio of -39.93 and a beta of 0.52.

Instructure (NYSE:INST) last issued its earnings results on Monday, October 28th. The technology company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $68.08 million. Instructure had a negative return on equity of 44.38% and a negative net margin of 26.64%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. As a group, analysts expect that Instructure will post -2.1 earnings per share for the current year.

In other news, insider Matthew Kaminer sold 5,000 shares of Instructure stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $46.50, for a total transaction of $232,500.00. Following the transaction, the insider now owns 46,901 shares in the company, valued at $2,180,896.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joshua L. Coates sold 1,242 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $44.97, for a total transaction of $55,852.74. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at approximately $247,335. The disclosure for this sale can be found here. Insiders sold 188,398 shares of company stock valued at $9,056,108 in the last ninety days. 9.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Instructure by 3.2% in the second quarter. BlackRock Inc. now owns 2,300,336 shares of the technology company’s stock valued at $97,763,000 after buying an additional 70,447 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Instructure by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,694,060 shares of the technology company’s stock worth $71,998,000 after acquiring an additional 50,458 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Instructure by 0.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,650,138 shares of the technology company’s stock worth $70,131,000 after acquiring an additional 12,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in Instructure by 3.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,318,762 shares of the technology company’s stock valued at $56,047,000 after acquiring an additional 45,100 shares in the last quarter. Finally, Tensile Capital Management LLC lifted its position in Instructure by 32.1% in the 2nd quarter. Tensile Capital Management LLC now owns 1,007,372 shares of the technology company’s stock valued at $42,813,000 after acquiring an additional 245,000 shares in the last quarter. Hedge funds and other institutional investors own 95.01% of the company’s stock.

About Instructure

Instructure, Inc provides applications for learning, assessment, and performance management through a software-as-a-service business model worldwide. It develops Canvas, a learning management platform for KÂ-12 and higher education; and Bridge, an employee development and engagement platform. The company's applications enhance academic and corporate learning by providing a system of engagement for teachers and learners, enabling frequent and open interactions, a streamlined workflow, and the creation and sharing of content with anytime, anywhere access to information.

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