Instructure (NYSE:INST) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Instructure (NYSE:INST) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

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 research analysts have also recently issued research reports about the company. ValuEngine cut Yara International ASA from a hold rating to a sell rating in a report on Wednesday, March 27th. Raymond James set a $19.00 price objective on Patterson-UTI Energy and gave the stock a buy rating in a research note on Friday, July 12th. TheStreet lowered UDR from a b rating to a c rating in a research report on Tuesday, April 30th. Finally, Barrington Research set a $110.00 price objective on Woodward, Inc.Common Stock and gave the company a buy rating in a report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $46.97.

INST opened at $41.61 on Wednesday. The company has a current ratio of 1.39, a quick 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 firm has a 50-day simple moving average of $41.73.

Instructure (NYSE:INST) last posted its quarterly earnings data on Monday, April 29th. The technology company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.04). The company 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%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. On average, research analysts expect that Instructure will post -2.26 earnings per share for the current year.

In related news, insider Matthew Kaminer sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $40.73, for a total value of $81,460.00. Following the completion of the sale, the insider now owns 36,075 shares of the company’s stock, valued at $1,469,334.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joshua L. Coates sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.93, for a total transaction of $429,300.00. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $236,115. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,000 shares of company stock valued at $1,997,410. 9.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Tensile Capital Management LLC acquired a new stake in shares of Instructure during the fourth quarter worth $33,647,000. Vista Equity Partners Management LLC boosted its holdings in Instructure by 670.7% in the 4th quarter. Vista Equity Partners Management LLC now owns 531,192 shares of the technology company’s stock valued at $19,925,000 after purchasing an additional 462,272 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Instructure by 43.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,430,085 shares of the technology company’s stock valued at $67,386,000 after purchasing an additional 434,810 shares during the period. FMR LLC lifted its holdings in shares of Instructure by 50.7% during the 4th quarter. FMR LLC now owns 1,019,934 shares of the technology company’s stock worth $38,258,000 after acquiring an additional 343,103 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Instructure by 12.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,273,662 shares of the technology company’s stock worth $60,015,000 after acquiring an additional 140,714 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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 K–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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