Daniel Wendler Sells 10,000 Shares of Flex (NASDAQ:FLEX) Stock

Flex Ltd. (NASDAQ:FLEX) CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the sale, the chief accounting officer directly owned 27,619 shares of the company’s stock, valued at approximately $1,987,739.43. This trade represents a 26.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Flex Stock Down 3.1%

NASDAQ:FLEX opened at $68.80 on Friday. The business’s fifty day moving average price is $61.55 and its 200 day moving average price is $54.78. The firm has a market capitalization of $25.44 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.83 and a beta of 1.26. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22.

Institutional Investors Weigh In On Flex

Large investors have recently bought and sold shares of the business. Brighton Jones LLC bought a new position in Flex during the fourth quarter valued at about $260,000. Deutsche Bank AG increased its holdings in shares of Flex by 1.4% during the 1st quarter. Deutsche Bank AG now owns 55,177 shares of the technology company’s stock valued at $1,825,000 after acquiring an additional 774 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of Flex in the 1st quarter valued at approximately $258,000. Russell Investments Group Ltd. lifted its holdings in Flex by 194.9% in the 1st quarter. Russell Investments Group Ltd. now owns 236,350 shares of the technology company’s stock worth $7,819,000 after purchasing an additional 156,193 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its holdings in Flex by 100.1% during the first quarter. Vestmark Advisory Solutions Inc. now owns 15,026 shares of the technology company’s stock valued at $497,000 after purchasing an additional 7,517 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on FLEX. JPMorgan Chase & Co. raised their price target on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research note on Monday, December 8th. Jefferies Financial Group reissued a “hold” rating and set a $23.00 price objective on shares of Flex in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.88.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.