Instructure Holdings Stock Is Rising: What's Going On？ - Instructure Hldgs (NYSE:INST)

　　Shares of education technology firm Instructure Holdings IncINST are trading higher Tuesday on above-average volume despite a lack of company-specific news. Here‘s a look at what’s going on.

　　What To Know:Instructure Holdings shares were up more than 6% at one point Tuesday afternoon, adding to gains of nearly 24% over the last month. The stock began moving higher in early May after the company reported first-quarter financial results and issued upbeat guidance for the second quarter.

　　The momentum picked up in mid-May after Reuters reported that private equity firm Thoma Bravowas exploring a sale of the company.

　　Thoma Bravo took Instructure private in 2020 for $2 billion. The private equity firm then returned Instructure to public markets a year later via an initial public offering at $20 per share. Instructure shares have underperformed the S&P 500 significantly since that time. Thoma Bravo currently owns 83% of Instructure Holdings.

　　Instructure CFO Peter Walkeralso spoke at the Baird Global Consumer, Technology & Services Conference last week and provided medium-term financial targets, which could be adding fuel to some of the recent momentum.

　　Walker reportedly said the companys Core Products are expected to grow between 5% and 10% annually, while its Growth Products are expected to grow at a clip of 10% to 15%. Overall organic growth is projected at 9% to 11% over the medium-term.

　　Instructure Holdings‘ average session volume is about 290,000, according to Benzinga Pro. Tuesday’s session volume had exceeded 1 million at the time of writing.

　　INST Price Action:Instructure shares closed 4.6% higher at $23.86 on Tuesday, per Benzinga Pro.

　　Photo: courtesy of Instructure Holdings.

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