Jane Street Group LLC Sells 40,582 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Jane Street Group LLC lowered its position in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 74.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,986 shares of the software maker's stock after selling 40,582 shares during the period. Jane Street Group LLC's holdings in Insight Enterprises were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NSIT. F M Investments LLC bought a new position in Insight Enterprises during the 2nd quarter worth $17,258,000. Charles Schwab Investment Management Inc. grew its stake in shares of Insight Enterprises by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 368,951 shares of the software maker's stock valued at $79,468,000 after acquiring an additional 85,428 shares in the last quarter. Renaissance Technologies LLC bought a new position in Insight Enterprises during the second quarter worth about $9,199,000. Bank of New York Mellon Corp raised its stake in Insight Enterprises by 14.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker's stock worth $56,790,000 after purchasing an additional 36,790 shares in the last quarter. Finally, Silver Lake Advisory LLC bought a new stake in Insight Enterprises in the 2nd quarter valued at about $6,343,000.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NSIT. Redburn Atlantic began coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They issued a "buy" rating and a $220.00 price target for the company. Barrington Research dropped their price objective on Insight Enterprises from $225.00 to $205.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $212.50.

Insight Enterprises Price Performance

Shares of NASDAQ:NSIT traded down $2.89 during midday trading on Friday, hitting $154.68. The stock had a trading volume of 1,347,472 shares, compared to its average volume of 259,780. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $4.91 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company's 50-day moving average price is $174.37 and its 200-day moving average price is $194.83. Insight Enterprises, Inc. has a fifty-two week low of $146.56 and a fifty-two week high of $228.07.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.18). Insight Enterprises had a net margin of 3.42% and a return on equity of 19.71%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the firm earned $2.37 earnings per share. The firm's revenue for the quarter was down 7.9% on a year-over-year basis. As a group, equities research analysts predict that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.