Corebridge Financial Inc. Sells 3,334 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Corebridge Financial Inc. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,813 shares of the software maker’s stock after selling 3,334 shares during the period. Corebridge Financial Inc.’s holdings in Manhattan Associates were worth $18,866,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. Stevens Capital Management LP purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $211,000. LPL Financial LLC lifted its position in Manhattan Associates by 22.1% during the fourth quarter. LPL Financial LLC now owns 39,565 shares of the software maker’s stock valued at $10,724,000 after purchasing an additional 7,162 shares during the last quarter. Fox Run Management L.L.C. grew its stake in Manhattan Associates by 16.2% in the 4th quarter. Fox Run Management L.L.C. now owns 2,937 shares of the software maker’s stock worth $794,000 after buying an additional 410 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Manhattan Associates in the 4th quarter worth $12,161,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

MANH has been the subject of several research analyst reports. Robert W. Baird dropped their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Loop Capital decreased their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler lowered their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Finally, Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Up 4.0 %

Shares of MANH opened at $177.97 on Tuesday. The stock has a market capitalization of $10.88 billion, a P/E ratio of 50.70 and a beta of 1.47. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The firm has a fifty day simple moving average of $203.99 and a two-hundred day simple moving average of $253.88.

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.