Castleark Management LLC Takes $4.07 Million Position in Manhattan Associates, Inc. $MANH

Castleark Management LLC acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 30,580 shares of the software maker’s stock, valued at approximately $4,071,000.

A number of other large investors also recently bought and sold shares of MANH. Eagle Bay Advisors LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after acquiring an additional 112 shares during the period. BNP Paribas acquired a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $39,000. TD Private Client Wealth LLC increased its stake in Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after purchasing an additional 109 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Manhattan Associates during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares of the company’s stock, valued at approximately $13,596,479.26. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by company insiders.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $159.29 on Tuesday. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 44.62 and a beta of 0.97. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $229.57. The company has a 50 day moving average price of $146.29 and a 200 day moving average price of $144.87.

Analyst Ratings Changes

A number of research firms have recently weighed in on MANH. Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a research report on Thursday, April 16th. DA Davidson restated a “buy” rating and set a $200.00 target price on shares of Manhattan Associates in a research report on Wednesday, May 20th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Stifel Nicolaus set a $200.00 price target on Manhattan Associates in a report on Wednesday, May 20th. Finally, Robert W. Baird increased their price target on Manhattan Associates from $183.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $201.00.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.