Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 217,000 Flex Ltd. (NASDAQ:FLEX)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 217,000 shares of the technology company's stock, valued at approximately $7,254,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Flex at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Merewether Investment Management LP acquired a new position in shares of Flex during the second quarter worth about $72,808,000. Charles Schwab Investment Management Inc. increased its position in Flex by 462.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company's stock worth $88,247,000 after purchasing an additional 2,170,262 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Flex by 1,242.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 728,900 shares of the technology company's stock worth $21,495,000 after buying an additional 792,700 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Flex by 48.1% in the 2nd quarter. TCW Group Inc. now owns 1,711,749 shares of the technology company's stock valued at $50,479,000 after buying an additional 556,286 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Flex by 2,600.1% in the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company's stock valued at $16,503,000 after buying an additional 475,376 shares in the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, Director Charles K. Stevens III sold 13,157 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the transaction, the director now owns 55,713 shares of the company's stock, valued at $2,155,535.97. The trade was a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $35.39, for a total transaction of $284,110.92. Following the sale, the insider now owns 240,018 shares in the company, valued at approximately $8,494,237.02. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Craig Hallum increased their price objective on Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group set a $39.00 price target on shares of Flex in a report on Thursday, October 17th. StockNews.com upgraded shares of Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, October 29th. Barclays lifted their price target on shares of Flex from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, KeyCorp initiated coverage on Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $40.83.

Flex Price Performance

Shares of FLEX stock traded up $0.15 during trading hours on Friday, hitting $38.97. The company's stock had a trading volume of 1,576,991 shares, compared to its average volume of 4,404,409. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. Flex Ltd. has a twelve month low of $21.84 and a twelve month high of $42.47. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.47 and a beta of 1.08. The business has a fifty day moving average of $35.93 and a 200-day moving average of $32.66.

About Flex

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.