Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,750 shares of the software maker's stock after buying an additional 6,708 shares during the period. Pinebridge Investments L.P. owned 0.07% of Manhattan Associates worth $12,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MANH. Twin Tree Management LP bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $25,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $34,000. Transce3nd LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $41,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $72,000. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Loop Capital restated a "hold" rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Piper Sandler reduced their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Finally, Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $212.38.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded up $1.95 during trading on Tuesday, reaching $176.33. 91,493 shares of the company were exchanged, compared to its average volume of 569,315. The firm has a market capitalization of $10.71 billion, a PE ratio of 50.22 and a beta of 1.36. The business's fifty day simple moving average is $169.01 and its 200-day simple moving average is $233.05. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Company 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.