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

by · The Cerbat Gem

Flex Ltd. (NASDAQ:FLEX – Get Free Report) CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $71.97, for a total transaction of $719,700.00. Following the transaction, the chief accounting officer owned 27,619 shares of the company’s stock, valued at $1,987,739.43. This trade represents a 26.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Flex Trading Down 3.1%

NASDAQ FLEX traded down $2.21 during mid-day trading on Friday, reaching $68.80. 6,778,098 shares of the stock were exchanged, compared to its average volume of 5,783,816. The stock has a market capitalization of $25.44 billion, a PE ratio of 30.44, a PEG ratio of 1.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The business’s fifty day simple moving average is $61.55 and its 200 day simple moving average is $54.70.

Analysts Set New Price Targets

Several brokerages recently weighed in on FLEX. The Goldman Sachs Group increased their target price on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lifted their price target on shares of Flex from $60.00 to $78.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Argus set a $85.00 target price on shares of Flex in a research note on Friday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average price target of $65.88.

Get Our Latest Stock Analysis on Flex

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. CENTRAL TRUST Co lifted its stake in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Flex during the second quarter worth $26,000. Concord Wealth Partners bought a new position in shares of Flex in the 2nd quarter worth about $28,000. CNB Bank acquired a new position in shares of Flex in the 2nd quarter valued at about $30,000. Finally, Harbour Investments Inc. grew its position in shares of Flex by 74.7% during the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after buying an additional 301 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Company Profile

(Get Free Report)

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.

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