Two Sigma Investments LP Sells 68,725 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Two Sigma Investments LP reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 71.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,961 shares of the software maker's stock after selling 68,725 shares during the period. Two Sigma Investments LP's holdings in Manhattan Associates were worth $7,286,000 as of its most recent SEC filing.

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

Manhattan Associates Stock Up 0.3%

Shares of NASDAQ:MANH traded up $0.49 during midday trading on Thursday, reaching $188.77. The company's stock had a trading volume of 454,178 shares, compared to its average volume of 590,571. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The firm has a market capitalization of $11.46 billion, a P/E ratio of 53.80 and a beta of 1.13. The firm has a 50 day moving average of $175.18 and a 200-day moving average of $219.30.

Analyst Ratings Changes

Several research firms have commented on MANH. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup reduced their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Piper Sandler decreased their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. DA Davidson upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Loop Capital reaffirmed a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $210.14.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.88% of the company's stock.

Manhattan Associates 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.