Flex Ltd. (NASDAQ:FLEX) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its position in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) by 15.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 108,348 shares of the technology company’s stock after selling 19,095 shares during the period. Citigroup Inc.’s holdings in Flex were worth $2,325,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in Flex during the fourth quarter valued at $29,000. Belpointe Asset Management LLC acquired a new stake in shares of Flex in the fourth quarter valued at about $36,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Flex in the fourth quarter valued at about $46,000. Huntington National Bank grew its position in shares of Flex by 61.0% in the third quarter. Huntington National Bank now owns 3,697 shares of the technology company’s stock valued at $62,000 after purchasing an additional 1,401 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Flex by 26.7% in the third quarter. Quadrant Capital Group LLC now owns 3,863 shares of the technology company’s stock valued at $64,000 after purchasing an additional 815 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Insiders Place Their Bets

In other Flex news, CAO Daniel Wendler sold 1,512 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $21.95, for a total transaction of $33,188.40. Following the sale, the chief accounting officer now directly owns 18,266 shares of the company’s stock, valued at approximately $400,938.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Daniel Wendler sold 1,512 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $21.95, for a total transaction of $33,188.40. Following the transaction, the chief accounting officer now directly owns 18,266 shares in the company, valued at approximately $400,938.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kwang Hooi Tan sold 3,483 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $22.81, for a total transaction of $79,447.23. Following the completion of the transaction, the insider now owns 131,002 shares in the company, valued at approximately $2,988,155.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,995 shares of company stock worth $318,636. 0.54% of the stock is owned by insiders.

Flex Stock Down 0.3 %

Shares of Flex stock opened at $24.50 on Thursday. The company has a market cap of $10.89 billion, a P/E ratio of 14.33, a PEG ratio of 0.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.68 and a current ratio of 1.48. Flex Ltd. has a one year low of $13.63 and a one year high of $25.14. The firm has a fifty day moving average of $21.72 and a two-hundred day moving average of $22.12.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent research reports. StockNews.com assumed coverage on shares of Flex in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup upped their price target on shares of Flex from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, January 27th.

Flex Profile

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Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.