Instructure (INST) Reaches New 12-Month High After Strong Earnings

Instructure Inc (NYSE:INST) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $42.55 and last traded at $42.55, with a volume of 822849 shares traded. The stock had previously closed at $37.35.

The technology company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The firm had revenue of $43.80 million for the quarter, compared to analysts’ expectations of $41.43 million. Instructure had a negative return on equity of 827.22% and a negative net margin of 34.82%. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS.

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Instructure from $39.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday. Morgan Stanley set a $42.00 price objective on Instructure and gave the company a “buy” rating in a report on Tuesday. SunTrust Banks lifted their price objective on Instructure to $47.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer reaffirmed a “buy” rating and issued a $41.00 price objective (up previously from $38.00) on shares of Instructure in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered Instructure from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Instructure has a consensus rating of “Buy” and a consensus target price of $40.40.

In other news, Director Ellen Levy sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $34.55, for a total transaction of $310,950.00. Following the sale, the director now owns 17,562 shares of the company’s stock, valued at approximately $606,767.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Collins sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $33.86, for a total value of $169,300.00. Following the sale, the director now directly owns 5,000 shares in the company, valued at approximately $169,300. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $830,250 in the last ninety days. 12.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in INST. Schwab Charles Investment Management Inc. boosted its stake in shares of Instructure by 74.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 44,162 shares of the technology company’s stock worth $1,303,000 after acquiring an additional 18,795 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Instructure by 54.6% during the 2nd quarter. Legal & General Group Plc now owns 4,076 shares of the technology company’s stock worth $121,000 after acquiring an additional 1,440 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Instructure by 7.6% during the 2nd 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 in the last quarter. Teachers Advisors LLC boosted its stake in shares of Instructure by 307.6% during the 2nd quarter. Teachers Advisors LLC now owns 74,138 shares of the technology company’s stock worth $2,187,000 after acquiring an additional 55,949 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Instructure by 76.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 93,994 shares of the technology company’s stock worth $2,773,000 after acquiring an additional 40,671 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market cap of $1,110.00 and a P/E ratio of -21.22.

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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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