Instructure (NYSE:INST) announced its quarterly earnings data on Monday, April 29th. The technology company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.04), Morningstar.com reports. The firm had revenue of $58.10 million for the quarter, compared to analyst estimates of $57.24 million. Instructure had a negative return on equity of 37.56% and a negative net margin of 21.74%. Instructure’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS.
Shares of INST stock traded up $0.35 on Wednesday, reaching $43.45. 171,424 shares of the stock were exchanged, compared to its average volume of 384,229. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.30. Instructure has a one year low of $29.48 and a one year high of $50.19. The company has a market cap of $1.59 billion, a P/E ratio of -35.33 and a beta of 0.47.
In related news, CFO Steven B. Kaminsky sold 1,400 shares of Instructure stock in a transaction on Monday, April 1st. The stock was sold at an average price of $47.65, for a total transaction of $66,710.00. Following the completion of the sale, the chief financial officer now directly owns 161,299 shares of the company’s stock, valued at $7,685,897.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Tucker Goldsmith acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average cost of $41.85 per share, with a total value of $104,625.00. Following the completion of the purchase, the chief executive officer now owns 7,379 shares of the company’s stock, valued at $308,811.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,735 shares of company stock valued at $2,257,137. 9.60% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Gotham Asset Management LLC acquired a new position in Instructure in the fourth quarter valued at about $244,000. Vista Equity Partners Management LLC boosted its position in shares of Instructure by 670.7% during the fourth quarter. Vista Equity Partners Management LLC now owns 531,192 shares of the technology company’s stock worth $19,925,000 after buying an additional 462,272 shares during the period. Millennium Management LLC boosted its position in shares of Instructure by 51.8% during the fourth quarter. Millennium Management LLC now owns 266,739 shares of the technology company’s stock worth $10,005,000 after buying an additional 91,009 shares during the period. New York State Common Retirement Fund boosted its position in shares of Instructure by 9.1% during the fourth quarter. New York State Common Retirement Fund now owns 133,166 shares of the technology company’s stock worth $4,995,000 after buying an additional 11,158 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Instructure by 2.6% during the third quarter. Vanguard Group Inc. now owns 1,474,891 shares of the technology company’s stock worth $52,211,000 after buying an additional 37,572 shares during the period. 84.37% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on INST shares. ValuEngine upgraded Instructure from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. First Analysis downgraded Instructure from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $50.00 to $49.00 in a research report on Wednesday, February 20th. Morgan Stanley downgraded Instructure from an “overweight” rating to an “equal weight” rating and set a $39.50 price objective for the company. in a research report on Wednesday, February 20th. They noted that the move was a valuation call. TheStreet upgraded Instructure from a “d” rating to a “c” rating in a research report on Wednesday, February 20th. Finally, Zacks Investment Research upgraded Instructure from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.88.
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 KÂ12 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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