Angeles Wealth Management LLC Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Angeles Wealth Management LLC trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,436 shares of the software maker’s stock after selling 165 shares during the quarter. Angeles Wealth Management LLC’s holdings in Manhattan Associates were worth $388,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares during the last quarter. FMR LLC lifted its stake in shares of Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after purchasing an additional 82,995 shares during the period. JPMorgan Chase & Co. increased its position in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates in the 3rd quarter valued at about $234,249,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $177.70 on Tuesday. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 50.63 and a beta of 1.50. The stock’s 50-day moving average is $268.55 and its two-hundred day moving average is $270.39. Manhattan Associates, Inc. has a 1-year low of $177.12 and a 1-year high of $312.60.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup cut their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and seven have assigned 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 $273.33.

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.