Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 10.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,436 shares of the software maker’s stock after selling 165 shares during the quarter. Angeles Wealth Management LLC’s holdings in Manhattan Associates were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in Manhattan Associates during the fourth quarter worth approximately $3,890,000. GDS Wealth Management grew its position in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $1,326,000. Smith Group Asset Management LLC raised its position in Manhattan Associates by 1.8% in the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after purchasing an additional 1,641 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its stake in Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MANH. Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Loop Capital lowered their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Insider Activity at Manhattan Associates

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

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $177.70 on Tuesday. Manhattan Associates, Inc. has a one year low of $177.12 and a one year high of $312.60. The firm has a market capitalization of $10.85 billion, a P/E ratio of 50.63 and a beta of 1.50. The company’s fifty day moving average is $268.55 and its two-hundred day moving average is $270.39.

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.