Mirae Asset Global Investments Co. Ltd. Sells 939 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 86.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150 shares of the software maker’s stock after selling 939 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Manhattan Associates were worth $41,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Calamos Advisors LLC lifted its stake in Manhattan Associates by 23.7% in the fourth quarter. Calamos Advisors LLC now owns 5,367 shares of the software maker’s stock valued at $1,450,000 after purchasing an additional 1,027 shares during the last quarter. abrdn plc raised its stake in shares of Manhattan Associates by 2.1% in the fourth quarter. abrdn plc now owns 23,088 shares of the software maker’s stock valued at $6,250,000 after buying an additional 476 shares during the period. Trust Point Inc. lifted its position in shares of Manhattan Associates by 29.0% during the 4th quarter. Trust Point Inc. now owns 1,787 shares of the software maker’s stock valued at $483,000 after buying an additional 402 shares during the last quarter. GDS Wealth Management grew its stake in shares of Manhattan Associates by 281.4% during the 4th 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 period. Finally, Greenleaf Trust increased its holdings in Manhattan Associates by 145.6% in the 4th quarter. Greenleaf Trust now owns 1,967 shares of the software maker’s stock worth $532,000 after acquiring an additional 1,166 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

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

Manhattan Associates Stock Up 1.5 %

Manhattan Associates stock opened at $190.41 on Friday. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50. The business has a 50-day simple moving average of $259.20 and a 200 day simple moving average of $268.19. Manhattan Associates, Inc. has a 52 week low of $169.94 and a 52 week high of $312.60.

Analysts Set New Price Targets

Several equities research analysts have commented on MANH shares. Citigroup dropped their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Truist Financial reduced their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus 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.