Erste Asset Management GmbH Sells 25,605 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Erste Asset Management GmbH significantly reduced its stake in Manhattan Associates by selling 25,605 shares, resulting in a remaining holding of only 160 shares, worth $28,000.
• Several analysts have set varying price targets for Manhattan Associates, with estimates ranging from $200 to $250, indicating a consensus outlook of a "Moderate Buy."
• Insider transactions included significant sales by both Director Linda T. Hollembaek and Chairman Eddie Capel, with total insider sales amounting to approximately $9.25 million in the past three months.

Erste Asset Management GmbH trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 99.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160 shares of the software maker's stock after selling 25,605 shares during the quarter. Erste Asset Management GmbH's holdings in Manhattan Associates were worth $28,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MANH. NewEdge Advisors LLC boosted its position in Manhattan Associates by 28.6% during the 4th quarter. NewEdge Advisors LLC now owns 1,938 shares of the software maker's stock valued at $524,000 after acquiring an additional 431 shares in the last quarter. Marshall Wace LLP bought a new stake in Manhattan Associates during the 4th quarter valued at approximately $816,000. First Trust Advisors LP boosted its position in Manhattan Associates by 38.8% during the 4th quarter. First Trust Advisors LP now owns 107,300 shares of the software maker's stock valued at $28,997,000 after acquiring an additional 29,977 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Manhattan Associates by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 493,208 shares of the software maker's stock valued at $133,293,000 after acquiring an additional 15,201 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in Manhattan Associates by 13.4% during the 4th quarter. MML Investors Services LLC now owns 12,357 shares of the software maker's stock valued at $3,339,000 after acquiring an additional 1,458 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on MANH shares. Loop Capital lifted their price objective on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Raymond James Financial lifted their target price on shares of Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Morgan Stanley started coverage on shares of Manhattan Associates in a report on Monday, July 14th. They set an "underweight" rating and a $190.00 target price for the company. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $216.67.

Manhattan Associates Stock Up 1.8%

Shares of NASDAQ MANH opened at $216.26 on Friday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market cap of $13.08 billion, a P/E ratio of 60.41 and a beta of 1.10. The company has a 50 day moving average of $205.80 and a 200 day moving average of $187.72.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million during the quarter, compared to analyst estimates of $263.62 million. During the same period in the previous year, the business earned $1.18 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Manhattan Associates has set its FY 2025 guidance at 4.760-4.840 EPS. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares in the company, valued at $2,637,757.71. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the transaction, the chairman owned 162,988 shares of the company's stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock worth $9,251,781 in the last three months. Insiders own 0.88% of the company's stock.

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.

Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.