Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 160.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,159 shares of the software maker's stock after buying an additional 3,176 shares during the quarter. Tidal Investments LLC's holdings in Manhattan Associates were worth $1,394,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $35,000. Transce3nd LLC acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $41,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $72,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MANH. Citigroup lowered their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. DA Davidson raised their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Loop Capital restated a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average price target of $210.14.

Manhattan Associates Stock Down 1.4%

Shares of MANH traded down $2.75 during mid-day trading on Wednesday, hitting $188.28. The stock had a trading volume of 667,129 shares, compared to its average volume of 589,658. The company has a market cap of $11.43 billion, a PE ratio of 53.64 and a beta of 1.13. The company's fifty day simple moving average is $174.84 and its two-hundred day simple moving average is $219.52. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

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.