Principal Financial Group Inc. Sells 117,544 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Principal Financial Group Inc. decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,150 shares of the software maker's stock after selling 117,544 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Manhattan Associates worth $68,411,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $42,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the 3rd quarter valued at $58,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Manhattan Associates in the 3rd quarter worth $63,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded down $3.92 during trading hours on Friday, reaching $182.06. The company's stock had a trading volume of 325,289 shares, compared to its average volume of 859,807. The firm has a 50 day moving average price of $249.99 and a 200-day moving average price of $266.40. The stock has a market cap of $11.13 billion, a P/E ratio of 51.87 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60.

Insider Activity

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MANH shares. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Piper Sandler reissued an "overweight" rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Raymond James dropped 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 report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $273.33.

Manhattan Associates Company 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.