SVP/CLO Bruce Richards sold 4,150 shares ($1.2M) at avg $289.73 on 2024-11-29; retains 22,086 shares.
Richards executed 3 separate sales totaling 4,150 shares for $1,202,395.85 on a single day, reducing his stake by 15.8% to 22,086 shares post-transaction. The blended average sale price of $289.73 falls within the stock's 52-week range ($199.37–$304.64) and modestly below the current price of $297.09, reflecting a near-peak execution in a stock up +15.7% over the past 90 days. His prior trade timing at MANH has been inconsistent: his prior 5 trades at this ticker show only 1 well-timed outcome at the 90-day horizon, with mixed results ranging from +12.7% to -16.1% in 90-day performance. The company's strong fundamentals—$266.7M quarterly revenue, +21.1% annual growth, and $63.8M net income—sit alongside a high valuation of 82.75 P/E, which may have provided context for the sale but does not itself explain timing or motivation.
Richards Bruce (SVP, CLO & Secretary) sold 4,000 shares in MANH at $261.00 on 2024-08-28/29 ($1.0M)
Richards Bruce executed 2 separate sales totaling 4,000 shares for $1,044,000.00 at a blended average price of $261.00, reducing his holdings by 13.2% from 30,236 to 26,236 shares. The stock was trading near 52-week highs at the time of sale (current price $264.43, -0.6% from the $266.03 52-week high), and has appreciated 3.5% in the 30 days and 20.4% in the 90 days since the filing date. Examining his same-ticker sale history at MANH, 1 of 3 prior sales was well-timed at the 90-day mark; the most recent sale on 2024-03-06 was poorly timed with subsequent -4.8% and -16.1% returns at 30 and 90 days respectively. The current sale occurred during a strong uptrend in the stock, and the stock's continued strength post-transaction (up 3.5% in 30 days) offers no clear signal yet of insider foresight regarding near-term direction.
