Manhattan Associates, Inc. $MANH Stock Sold by Kopp Family Office LLC

Key Points

• Kopp Family Office LLC cut its Manhattan Associates stake by 45.7% in the third quarter, selling 7,468 shares and retaining 8,879 shares valued at approximately $1.76 million.
• Institutional ownership remains very high at 98.45%, while several major firms—including BlackRock, William Blair, Bank of America and Amundi—built or initiated positions.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $229.33; the stock recently traded near its 52-week high at $235.83.

Kopp Family Office LLC trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 45.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,879 shares of the software maker's stock after selling 7,468 shares during the quarter. Manhattan Associates makes up about 1.0% of Kopp Family Office LLC's portfolio, making the stock its 13th biggest holding. Kopp Family Office LLC's holdings in Manhattan Associates were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $944,285,000. William Blair Investment Management LLC acquired a new position in Manhattan Associates during the second quarter worth $94,049,000. Bank of America Corp DE acquired a new position in Manhattan Associates during the second quarter worth $75,136,000. Bank of New York Mellon Corp acquired a new position in Manhattan Associates during the second quarter worth $54,011,000. Finally, Amundi raised its position in Manhattan Associates by 479.4% during the first quarter. Amundi now owns 454,095 shares of the software maker's stock worth $60,449,000 after acquiring an additional 375,719 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on MANH. DA Davidson cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target for the company. in a research note on Monday, September 28th. Robert W. Baird raised their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, August 26th. UBS Group reiterated a "buy" rating on shares of Manhattan Associates in a research note on Wednesday, October 14th. Morgan Stanley raised Manhattan Associates from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $180.00 to $250.00 in a research report on Monday, October 12th. Finally, Citigroup boosted their price target on Manhattan Associates from $203.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.33.

Insider Activity at Manhattan Associates

In other news, CEO Eric Clark sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares of the company's stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $235.83 on Thursday. The company has a market cap of $13.75 billion, a P/E ratio of 67.57 and a beta of 0.95. The firm's fifty day moving average price is $211.48 and its two-hundred day moving average price is $170.59. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $236.62.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. During the same quarter last year, the company posted $1.31 EPS. Manhattan Associates's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Manhattan Associates Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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