OneAscent Financial Services LLC Invests $455,000 in Flex Ltd. $FLEX

OneAscent Financial Services LLC acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,844 shares of the technology company’s stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in Flex in the fourth quarter valued at about $260,000. Goldman Sachs Group Inc. increased its holdings in shares of Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock valued at $42,314,000 after acquiring an additional 211,046 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Flex in the 1st quarter valued at approximately $397,000. Dakota Wealth Management purchased a new position in shares of Flex in the 2nd quarter valued at approximately $251,000. Finally, GC Wealth Management RIA LLC acquired a new stake in Flex in the 2nd quarter worth approximately $231,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

NASDAQ FLEX opened at $65.10 on Wednesday. The firm has a market capitalization of $24.07 billion, a P/E ratio of 28.81, a PEG ratio of 1.69 and a beta of 1.24. The stock has a 50-day simple moving average of $62.69 and a two-hundred day simple moving average of $58.63. 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 fifty-two week low of $25.11 and a fifty-two week high of $72.22.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total value of $933,150.00. Following the sale, the insider owned 211,198 shares in the company, valued at approximately $13,138,627.58. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the sale, the director directly owned 58,561 shares in the company, valued at $3,396,538. The trade was a 14.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 101,406 shares of company stock valued at $6,129,539 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Raymond James Financial raised Flex from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 14th. Barclays lowered their price target on Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Bank of America increased their price objective on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus target price of $66.11.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.