Rep. Robert Bresnahan, Jr. Sells Off Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Manhattan Associates, Inc. (NASDAQ:MANH). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Manhattan Associates stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $2.83 during mid-day trading on Friday, reaching $190.41. The company had a trading volume of 857,847 shares, compared to its average volume of 693,494. The stock has a fifty day moving average of $259.20 and a two-hundred day moving average of $268.19. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $169.94 and a 12-month high of $312.60.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC grew its holdings in Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. Ascent Group LLC grew its holdings in Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after purchasing an additional 41 shares during the last quarter. Huntington National Bank grew its stake in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after acquiring an additional 55 shares during the last quarter. Finally, Kestra Investment Management LLC grew its stake in shares of Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were 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 owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.33.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.