Corebridge Financial Inc. Sells 3,334 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Corebridge Financial Inc. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 large investors have also bought and sold shares of MANH. JPMorgan Chase & Co. raised its holdings in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after acquiring an additional 357,172 shares during the last quarter. Swedbank AB lifted its position in Manhattan Associates by 1,840.3% in the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after acquiring an additional 350,000 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Manhattan Associates during the 4th quarter valued at about $49,416,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 4.0 %

NASDAQ MANH opened at $177.97 on Tuesday. The company has a market cap of $10.88 billion, a PE ratio of 50.70 and a beta of 1.47. The firm’s 50-day simple moving average is $203.99 and its two-hundred day simple moving average is $253.88. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60.

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

Several analysts have recently commented on MANH shares. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler reduced their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. DA Davidson reduced their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Robert W. Baird cut their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.