Manhattan Associates, Inc. (NASDAQ:MANH) Stake Boosted by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,759 shares of the software maker’s stock after purchasing an additional 83 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Manhattan Associates were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the 3rd quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the 4th quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates during the 3rd quarter worth about $42,000. Carolina Wealth Advisors LLC acquired a new stake in Manhattan Associates during the 3rd quarter worth about $50,000. Finally, Brooklyn Investment Group acquired a new stake in Manhattan Associates during the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $200.90 on Friday. The business has a 50 day moving average price of $270.72 and a 200 day moving average price of $270.42. Manhattan Associates, Inc. has a twelve month low of $196.04 and a twelve month high of $312.60. The firm has a market cap of $12.27 billion, a P/E ratio of 57.24 and a beta of 1.50.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Robert W. Baird raised their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. 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, Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Four equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.