Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Manhattan Associates, Inc. shares valued at $645,453 were sold by Richards Bruce on Aug 28 ’24. At $261.00 per share, Richards Bruce sold 2,473 shares. The insider’s holdings dropped to 27,763 shares worth approximately $7.59 million following the completion of this transaction.
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Also, Richards Bruce sold 1,527 shares, netting a total of over 398,547 in proceeds. Following the sale of shares at $261.00 each, the insider now holds 26,236 shares.
Before that, BRUCE S RICHARDS had added 1,527 shares to its account. In a trade valued at $398,547, the Officer bought Manhattan Associates, Inc. shares for $261.00 each.
As published in a research note from DA Davidson on April 25, 2024, Manhattan Associates, Inc. [MANH] has been rated up from a Neutral to a Buy and the price target has been revised to $240 from $220. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid March. As of April 11, 2023, Rosenblatt has decreased its “Buy” rating to a “Neutral” for MANH. Earlier on February 22, 2023, DA Davidson initiated its rating. Their recommendation was “a Neutral” for MANH stock.
Analyzing MANH Stock Performance
During the last five days, there has been a drop of approximately -10.20%. Over the course of the year, Manhattan Associates, Inc. shares have jumped approximately 27.02%. Shares of the company reached a 52-week high of $307.50 on 10/15/24 and a 52-week low of $199.23 on 01/05/24. A 50-day SMA is recorded $274.36, while a 200-day SMA reached $245.42. Nevertheless, trading volume fell to 0.68 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Manhattan Associates, Inc. (MANH)
According to the 24-hour chart, there is a support level at 270.33, which, if violated, would cause prices to drop to 267.16. In the upper region, resistance lies at 276.18. The next price resistance is at 278.86. RSI (Relative Strength Index) is 40.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.63, which suggests the price will decrease in the coming days. Percent R is at 78.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
