Los Angeles Capital Management LLC Sells 7,564 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Los Angeles Capital Management LLC lowered its stake in shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 63.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,446 shares of the software maker's stock after selling 7,564 shares during the quarter. Los Angeles Capital Management LLC's holdings in Insight Enterprises were worth $958,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Capital World Investors increased its stake in Insight Enterprises by 27.8% during the first quarter. Capital World Investors now owns 2,149,092 shares of the software maker's stock valued at $398,700,000 after acquiring an additional 467,088 shares during the period. Capital Research Global Investors raised its stake in shares of Insight Enterprises by 54.9% in the first quarter. Capital Research Global Investors now owns 907,709 shares of the software maker's stock valued at $168,398,000 after purchasing an additional 321,780 shares in the last quarter. Capital International Investors bought a new position in Insight Enterprises in the first quarter worth $33,765,000. F M Investments LLC acquired a new stake in Insight Enterprises during the second quarter worth $17,258,000. Finally, Renaissance Technologies LLC bought a new stake in Insight Enterprises in the 2nd quarter valued at $9,199,000.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the sale, the insider now directly owns 5,460 shares in the company, valued at $1,124,923.80. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.23% of the company's stock.

Insight Enterprises Price Performance

NSIT traded down $1.13 during midday trading on Friday, hitting $151.50. The company had a trading volume of 467,423 shares, compared to its average volume of 240,338. Insight Enterprises, Inc. has a twelve month low of $147.28 and a twelve month high of $228.07. The firm's 50-day simple moving average is $201.83 and its 200-day simple moving average is $202.38. The company has a market capitalization of $4.81 billion, a PE ratio of 19.06, a P/E/G ratio of 1.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NSIT shares. Redburn Atlantic initiated coverage on shares of Insight Enterprises in a research note on Friday. They issued a "buy" rating and a $220.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Insight Enterprises from $233.00 to $225.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, Barrington Research reduced their target price on Insight Enterprises from $225.00 to $205.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $212.50.

About Insight Enterprises

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.