Dennis B. Story Sells 2,788 Shares of Manhattan Associates, Inc. (NASDAQ:MANH) Stock

Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $166.66 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $164.48 and a fifty-two week high of $312.60. The stock’s fifty day moving average is $219.52 and its two-hundred day moving average is $258.82. The firm has a market capitalization of $10.19 billion, a P/E ratio of 47.48 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. 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 report on Wednesday, January 29th. Finally, Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Hedge Funds Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in Manhattan Associates in the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $35,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates during the fourth quarter worth approximately $34,000. Finally, Park Square Financial Group LLC acquired a new position in Manhattan Associates during the fourth quarter worth $38,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Associates

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.