Harvest Fund Management Co. Ltd Sells 1,975 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Harvest Fund Management Co. Ltd reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,376 shares of the software maker's stock after selling 1,975 shares during the period. Harvest Fund Management Co. Ltd's holdings in Manhattan Associates were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Brooklyn Investment Group bought a new position in Manhattan Associates during the 3rd quarter valued at $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in Manhattan Associates during the 4th quarter worth $72,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

NASDAQ:MANH traded down $3.93 on Wednesday, reaching $175.62. 491,616 shares of the company's stock were exchanged, compared to its average volume of 516,648. The stock has a fifty day simple moving average of $202.16 and a 200-day simple moving average of $253.38. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 50.03 and a beta of 1.47.

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Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

MANH has been the topic of several analyst reports. Robert W. Baird cut their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. DA Davidson raised Manhattan Associates to a "strong-buy" rating in a research report on Monday. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $243.78.

Manhattan Associates Profile

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.