Cresset Asset Management LLC Sells 489 Shares of Flex Ltd. (NASDAQ:FLEX)

Cresset Asset Management LLC lowered its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,534 shares of the technology company’s stock after selling 489 shares during the quarter. Cresset Asset Management LLC’s holdings in Flex were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Evergreen Capital Management LLC lifted its position in Flex by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock valued at $925,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock valued at $488,000 after acquiring an additional 266 shares during the period. Sage Rhino Capital LLC raised its stake in shares of Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock valued at $1,358,000 after acquiring an additional 374 shares during the period. Arizona State Retirement System raised its stake in shares of Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock valued at $4,424,000 after acquiring an additional 403 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Flex by 11.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company’s stock valued at $170,000 after acquiring an additional 447 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, COO Kwang Hooi Tan sold 34,335 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $1,441,726.65. Following the sale, the chief operating officer now directly owns 262,313 shares in the company, valued at approximately $11,014,522.87. This trade represents a 11.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 4,502 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $189,038.98. Following the completion of the sale, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. This represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 475,255 shares of company stock valued at $19,002,628. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Flex in a research note on Tuesday, February 11th. They issued a “buy” rating and a $52.00 target price on the stock. KeyCorp increased their target price on shares of Flex from $35.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. reduced their price target on shares of Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group reduced their price target on shares of Flex from $53.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.33.

Flex Trading Down 0.3%

FLEX stock opened at $41.95 on Friday. The company has a market capitalization of $16.07 billion, a PE ratio of 16.92, a P/E/G ratio of 2.43 and a beta of 0.96. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $45.10. The firm’s 50-day moving average is $34.12 and its 200 day moving average is $37.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Flex Company Profile

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.