Corebridge Financial Inc. cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,813 shares of the software maker's stock after selling 3,334 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Manhattan Associates worth $18,866,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in MANH. Twin Tree Management LP bought a new stake in shares of Manhattan Associates in the fourth quarter worth $25,000. Whipplewood Advisors LLC acquired a new position in Manhattan Associates during the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the fourth quarter worth about $72,000. 98.45% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Truist Financial reduced their price objective on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Piper Sandler reduced their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Finally, Loop Capital decreased their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $243.78.
View Our Latest Analysis on MANH
Insider Activity at Manhattan Associates
In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.
Manhattan Associates Stock Performance
Shares of MANH traded down $1.34 during mid-day trading on Friday, reaching $173.48. 691,685 shares of the company's stock traded hands, compared to its average volume of 529,877. The business's 50-day moving average price is $196.17 and its 200-day moving average price is $251.73. The stock has a market capitalization of $10.60 billion, a P/E ratio of 49.42 and a beta of 1.47. Manhattan Associates, Inc. has a 12 month low of $163.10 and a 12 month high of $312.60.
About Manhattan Associates
(
Free Report)
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.
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