Instructure (INST) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Instructure (NYSE:INST) from a hold rating to a sell rating in a report released on Saturday morning.

According to Zacks, “Instructure, Inc. provides cloud-based online education technology. It develops Canvas, a learning management application 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. The company’s platform also provides data analytics that enable real-time reaction to information and benchmarking in order to personalize curricula and increase the efficacy of the learning process. Instructure, Inc. is based in Salt Lake City, Utah. “

Other equities research analysts have also issued reports about the stock. UBS Group lowered shares of Instructure from an outperform rating to a market perform rating in a report on Tuesday, July 31st. Oppenheimer reiterated a market perform rating and set a $41.00 price target on shares of Instructure in a report on Tuesday, July 31st. Needham & Company LLC upped their price target on shares of Instructure from $50.00 to $58.00 and gave the company a buy rating in a report on Thursday, July 26th. Citigroup assumed coverage on shares of Instructure in a report on Monday, July 16th. They set a buy rating and a $55.00 price target for the company. Finally, Macquarie lowered shares of Instructure from an outperform rating to a neutral rating and set a $41.00 price target for the company. in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $48.09.

Shares of INST opened at $31.82 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of -18.50 and a beta of 0.91. Instructure has a fifty-two week low of $31.25 and a fifty-two week high of $49.17.

Instructure (NYSE:INST) last announced its quarterly earnings data on Monday, July 30th. The technology company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.19. Instructure had a negative net margin of 26.24% and a negative return on equity of 78.26%. The firm had revenue of $50.10 million during the quarter, compared to analyst estimates of $49.46 million. During the same period in the previous year, the business posted ($0.32) EPS. The business’s quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts predict that Instructure will post -1.57 earnings per share for the current year.

In related news, CFO Steven B. Kaminsky sold 20,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $45.16, for a total transaction of $903,200.00. Following the completion of the sale, the chief financial officer now directly owns 165,418 shares in the company, valued at approximately $7,470,276.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp increased its position in Instructure by 40.2% during the 2nd quarter. Northern Trust Corp now owns 377,148 shares of the technology company’s stock valued at $16,048,000 after purchasing an additional 108,061 shares during the period. Bank of New York Mellon Corp increased its position in Instructure by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 123,394 shares of the technology company’s stock valued at $5,250,000 after purchasing an additional 3,235 shares during the period. Public Employees Retirement System of Ohio increased its position in Instructure by 3.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 39,276 shares of the technology company’s stock valued at $1,671,000 after purchasing an additional 1,364 shares during the period. Pacific Grove Capital LP increased its position in Instructure by 105.0% during the 2nd quarter. Pacific Grove Capital LP now owns 82,000 shares of the technology company’s stock valued at $3,489,000 after purchasing an additional 42,000 shares during the period. Finally, MetLife Investment Advisors LLC increased its position in Instructure by 40.4% during the 2nd quarter. MetLife Investment Advisors LLC now owns 14,481 shares of the technology company’s stock valued at $616,000 after purchasing an additional 4,165 shares during the period. 85.44% of the stock is currently owned by institutional investors and hedge funds.

About Instructure

Instructure, Inc, a software-as-a-service technology company, provides applications for learning, assessment, and performance management worldwide. The company offers its platform through a software-as-a-service business model. It develops Canvas, a learning management system for K?12 and higher education; Bridge, a learning and performance management suite for businesses; Arc, a next-generation online video learning platform for academic and corporate learning; and Gauge, an assessment management system for K?12 schools.

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