Dark Forest Capital Management LP Takes Position in Insight Enterprises, Inc. (NASDAQ:NSIT)

Dark Forest Capital Management LP purchased a new stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,350 shares of the software maker's stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSIT. Massachusetts Financial Services Co. MA bought a new position in Insight Enterprises in the fourth quarter valued at approximately $57,380,000. Norges Bank acquired a new position in shares of Insight Enterprises in the 4th quarter valued at $47,585,000. Hennessy Advisors Inc. acquired a new position in shares of Insight Enterprises in the 4th quarter valued at $39,242,000. Pacer Advisors Inc. boosted its position in shares of Insight Enterprises by 26.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker's stock worth $163,243,000 after purchasing an additional 225,283 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Insight Enterprises by 65.7% during the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker's stock worth $41,188,000 after purchasing an additional 107,397 shares during the period.

Insight Enterprises Trading Down 0.2 %

Insight Enterprises stock traded down $0.29 during mid-day trading on Friday, hitting $133.53. 412,740 shares of the company's stock were exchanged, compared to its average volume of 310,540. Insight Enterprises, Inc. has a fifty-two week low of $126.10 and a fifty-two week high of $228.07. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.26 billion, a P/E ratio of 20.48, a PEG ratio of 1.40 and a beta of 1.31. The company's 50 day simple moving average is $144.56 and its 200-day simple moving average is $159.38.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.03. Insight Enterprises had a return on equity of 18.95% and a net margin of 2.87%. The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.19 billion. During the same quarter in the previous year, the business posted $2.37 EPS. Insight Enterprises's revenue for the quarter was down 11.6% on a year-over-year basis. On average, equities analysts anticipate that Insight Enterprises, Inc. will post 9.89 earnings per share for the current year.

Analyst Ratings Changes

NSIT has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Barrington Research cut their price target on shares of Insight Enterprises from $205.00 to $164.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Insight Enterprises has a consensus rating of "Hold" and an average target price of $185.00.

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.