Insider Selling: Flex (NASDAQ:FLEX) CAO Sells 1,579 Shares of Stock

Key Points

• Flex CAO Daniel Wendler sold 1,579 shares on June 15 at an average price of $147.64, totaling about $233,124. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
• The insider sale trimmed Wendler’s ownership by 4.51%, leaving him with 33,417 shares valued at roughly $4.93 million. The article also notes he sold 3,819 shares in a separate transaction on May 11.
• Flex has seen multiple insider sales recently, including transactions by the CEO, CFO, COO, and other executives, but many were described as tax-related rather than a shift in outlook. Meanwhile, analysts remain generally positive, with several recent target-price increases and a consensus rating of “Moderate Buy.”

Flex Ltd. (NASDAQ:FLEX - Get Free Report) CAO Daniel Wendler sold 1,579 shares of Flex stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $147.64, for a total value of $233,123.56. Following the completion of the sale, the chief accounting officer owned 33,417 shares in the company, valued at approximately $4,933,685.88. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Daniel Wendler also recently made the following trade(s):

• On Monday, May 11th, Daniel Wendler sold 3,819 shares of Flex stock. The stock was sold at an average price of $142.39, for a total value of $543,787.41.

Flex Price Performance

FLEX stock traded down $3.80 during trading on Wednesday, hitting $143.13. The stock had a trading volume of 7,319,362 shares, compared to its average volume of 5,230,561. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a twelve month low of $45.31 and a twelve month high of $166.86. The stock has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a PEG ratio of 0.77 and a beta of 1.64. The company's 50-day moving average price is $120.56 and its two-hundred day moving average price is $83.95.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion for the quarter. As a group, research analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on FLEX shares. Zacks Research upgraded Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Robert W. Baird set a $165.00 target price on Flex in a research note on Thursday, May 7th. Finally, Barclays raised their target price on Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.70.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

Institutional Trading of Flex

Several institutional investors have recently made changes to their positions in FLEX. Brighton Jones LLC purchased a new stake in shares of Flex during the 4th quarter valued at approximately $260,000. Goldman Sachs Group Inc. raised its position in Flex by 19.8% in 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 purchasing an additional 211,046 shares during the period. Empowered Funds LLC purchased a new stake in Flex in the first quarter valued at approximately $397,000. EverSource Wealth Advisors LLC raised its position in Flex by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company's stock valued at $132,000 after purchasing an additional 1,031 shares during the period. Finally, First Trust Advisors LP raised its position in Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company's stock valued at $3,099,000 after purchasing an additional 29,821 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Company 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.

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