Insigneo Advisory Services LLC Sells 3,499 Shares of Flex Ltd. $FLEX

by · The Cerbat Gem

Insigneo Advisory Services LLC reduced its position in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 21.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,969 shares of the technology company’s stock after selling 3,499 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Flex were worth $647,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BayBridge Capital Group LLC grew its holdings in shares of Flex by 2.1% during the second quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock valued at $569,000 after buying an additional 235 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Flex by 39.4% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock valued at $43,000 after acquiring an additional 244 shares in the last quarter. Archer Investment Corp boosted its stake in Flex by 8.9% during the 2nd quarter. Archer Investment Corp now owns 3,050 shares of the technology company’s stock valued at $152,000 after purchasing an additional 250 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Flex by 1.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company’s stock worth $759,000 after purchasing an additional 266 shares in the last quarter. Finally, Uncommon Cents Investing LLC increased its holdings in shares of Flex by 4.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 6,850 shares of the technology company’s stock worth $342,000 after purchasing an additional 270 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLEX has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. The Goldman Sachs Group raised their price target on shares of Flex from $66.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Argus set a $85.00 price objective on shares of Flex in a report on Friday, October 31st. KeyCorp raised their target price on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Bank of America lifted their target price on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.75.

Read Our Latest Analysis on Flex

Flex Stock Performance

Shares of NASDAQ FLEX opened at $57.35 on Wednesday. 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 12-month low of $25.11 and a 12-month high of $67.00. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24. The firm has a 50 day moving average of $60.15 and a 200 day moving average of $52.92.

Insider Activity

In other news, Director William D. Watkins sold 20,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $54.52, for a total value of $1,090,400.00. Following the completion of the sale, the director directly owned 98,073 shares in the company, valued at $5,346,939.96. This represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the transaction, the chief accounting officer owned 37,619 shares in the company, valued at $2,131,492.54. This trade represents a 21.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 142,500 shares of company stock worth $8,431,950. Company insiders own 0.57% of the company’s stock.

Flex Profile

(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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