Sanctuary Advisors LLC Sells 2,193 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sanctuary Advisors LLC lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 34.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,205 shares of the software maker’s stock after selling 2,193 shares during the quarter. Sanctuary Advisors LLC’s holdings in Manhattan Associates were worth $1,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its position in shares of Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC increased its holdings in Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares during the last quarter. Geode Capital Management LLC increased its holdings in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after buying an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 acquiring an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Manhattan Associates in the third quarter valued at $234,249,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MANH. Piper Sandler reaffirmed an “overweight” rating and issued a $268.00 target price (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 report on Monday, January 13th. DA Davidson cut their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Truist Financial dropped their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Price Performance

MANH stock opened at $177.61 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 50.60 and a beta of 1.50. The business’s fifty day moving average price is $240.78 and its two-hundred day moving average price is $264.77.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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.