Forsta AP Fonden Sells 400 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Forsta AP Fonden trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,998 shares of the software maker’s stock after selling 400 shares during the quarter. Forsta AP Fonden owned 0.05% of Manhattan Associates worth $8,917,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates during the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Manhattan Associates in the third quarter valued at approximately $50,000. Brooklyn Investment Group bought a new position in Manhattan Associates in the third quarter worth approximately $58,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Manhattan Associates during the 3rd quarter worth $63,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In related news, 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 transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Trading Down 3.9 %

MANH opened at $214.14 on Friday. The firm has a market capitalization of $13.08 billion, a PE ratio of 60.84 and a beta of 1.52. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60. The firm has a 50 day moving average of $281.04 and a two-hundred day moving average of $271.55.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MANH. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Citigroup reduced their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

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.