2,211 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Bought by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,211 shares of the software maker's stock, valued at approximately $598,000.

Several other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Manhattan Associates during the 3rd quarter valued at $502,000. JPMorgan Chase & Co. boosted its position in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. GAMMA Investing LLC grew its stake in Manhattan Associates by 40.1% in the fourth quarter. GAMMA Investing LLC now owns 1,662 shares of the software maker's stock valued at $449,000 after purchasing an additional 476 shares during the last quarter. Everence Capital Management Inc. bought a new position in Manhattan Associates in the fourth quarter worth about $484,000. Finally, PFW Advisors LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at about $467,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $1.16 during trading hours on Tuesday, reaching $182.83. 608,940 shares of the company were exchanged, compared to its average volume of 575,748. The firm has a market cap of $11.10 billion, a PE ratio of 52.09 and a beta of 1.13. The stock's fifty day moving average is $169.14 and its 200 day moving average is $228.44. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MANH shares. Citigroup dropped their target price 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. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Robert W. Baird decreased their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. DA Davidson boosted their price objective on shares of Manhattan Associates from $195.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Loop Capital reaffirmed a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $212.38.

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.