Insight Enterprises Inc (NASDAQ:NSIT) director Kathleen S. Pushor recently sold 1,329 shares of the company's common stock, according to a new SEC filing. The shares were sold at a weighted average price of $195.88, totaling approximately $260,321 in the transaction.
The sale was executed on May 30, 2024, and was disclosed through an SEC Form 4 filing on June 3, 2024. Post-transaction, Pushor still owns 5,800 shares of Insight Enterprises stock, which are held indirectly by a trust. The company, known for its retail catalog and mail-order operations, has its business address in Chandler, Arizona.
The SEC filing included a footnote indicating that the reported price was a weighted average, as the shares were sold in multiple transactions. The reporting person has agreed to provide further details about the number of shares sold at each price upon request.
Investors often monitor insider transactions as they can provide insights into the company's performance and insiders' perspectives on the stock's value. Insight Enterprises' stock activity by executives and directors is closely watched, and this recent sale by a director might draw attention from the investment community.
The transaction was signed off by Samuel C. Cowley, who holds Power of Attorney for Kathleen S. Pushor, indicating that the director has complied with all legal requirements in reporting the sale of these shares.
InvestingPro Insights
Following the recent insider sale by director Kathleen S. Pushor, investors are keenly observing Insight Enterprises Inc's (NASDAQ:NSIT) performance indicators and market position. According to InvestingPro data, Insight Enterprises currently boasts a market capitalization of $6.4 billion. The company's price-to-earnings (P/E) ratio stands at 21.49, reflecting investor sentiment and expectations about future earnings. Furthermore, the P/E ratio has shown a slight decrease in the last twelve months as of Q1 2024, adjusting to 20.65.
Despite a decline in revenue growth of -8.64% over the last twelve months as of Q1 2024, Insight Enterprises has demonstrated a quarterly revenue growth of 2.39% in Q1 2024. This could signal a potential turnaround in the company's revenue trajectory. Additionally, the company's gross profit margin remains at 18.62%, which may be of interest to those analyzing the company's profitability and cost management strategies.
InvestingPro Tips highlight that analysts have revised their earnings upwards for the upcoming period, suggesting optimism about the company's financial prospects. Moreover, the valuation implies a strong free cash flow yield, which could be a compelling factor for investors seeking companies with robust cash generation capabilities. For those interested in deeper analysis, there are 5 additional InvestingPro Tips available for Insight Enterprises, providing further insights into the company's financial health and market performance.
Investors looking to leverage these insights and explore more exclusive tips can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With the next earnings date set for August 1, 2024, market participants will be watching closely to see if the company's performance aligns with the positive revisions and strong free cash flow yield indicated by these insights.
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