Needham Investment Management LLC Sells 7,000 Shares of Insight Enterprises, Inc. $NSIT

Key Points

• Needham Investment Management LLC reduced its stake in Insight Enterprises by 56.0%, selling 7,000 shares and leaving it with a total of 5,500 shares worth $825,000.
• Several hedge funds, including Royal Bank of Canada, increased their stakes significantly, with Royal Bank boosting its position by 684.8% to own 24,422 shares valued at $3,664,000.
• Despite reporting a miss on earnings and a 3.3% revenue decline compared to the same quarter last year, Insight Enterprises received positive analyst ratings, with a consensus price target of $183.00.

Needham Investment Management LLC cut its stake in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 56.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,500 shares of the software maker's stock after selling 7,000 shares during the quarter. Needham Investment Management LLC's holdings in Insight Enterprises were worth $825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in Insight Enterprises during the first quarter valued at approximately $27,000. Bessemer Group Inc. grew its position in Insight Enterprises by 79.2% during the first quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after buying an additional 84 shares during the period. Parallel Advisors LLC grew its position in Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after buying an additional 95 shares during the period. Golden State Wealth Management LLC grew its position in Insight Enterprises by 100.5% during the first quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock valued at $63,000 after buying an additional 210 shares during the period. Finally, Covestor Ltd grew its position in Insight Enterprises by 68.1% during the first quarter. Covestor Ltd now owns 580 shares of the software maker's stock valued at $87,000 after buying an additional 235 shares during the period.

Insight Enterprises Price Performance

NASDAQ:NSIT traded up $3.66 during trading hours on Thursday, hitting $129.34. 79,929 shares of the stock traded hands, compared to its average volume of 358,847. The company has a quick ratio of 1.26, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Insight Enterprises, Inc. has a 1 year low of $115.68 and a 1 year high of $225.38. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 1.17 and a beta of 1.16. The stock has a 50 day moving average price of $133.22 and a 200 day moving average price of $137.74.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The software maker reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.04). Insight Enterprises had a net margin of 1.79% and a return on equity of 18.68%. The firm had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the prior year, the firm earned $2.46 EPS. Insight Enterprises's revenue for the quarter was down 3.3% compared to the same quarter last year. Insight Enterprises has set its FY 2025 guidance at 9.700-10.10 EPS. Sell-side analysts forecast that Insight Enterprises, Inc. will post 9.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barrington Research restated an "outperform" rating and set a $164.00 target price on shares of Insight Enterprises in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $183.00.

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.