AlphaQuest LLC Trims Stock Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• AlphaQuest LLC significantly reduced its stake in Expeditors International of Washington, selling 9,455 shares for an 87.6% decrease, retaining only 1,339 shares worth $161,000.
• Multiple institutional investors have recently altered their holdings, with 94.02% of the stock now owned by institutional investors.
• Analysts have mixed ratings on the company, with seven holding a "Hold" rating and five issuing "Sell" ratings, reflecting a consensus rating of "Reduce" with a target price of $114.22.

AlphaQuest LLC lessened its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 87.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,339 shares of the transportation company's stock after selling 9,455 shares during the quarter. AlphaQuest LLC's holdings in Expeditors International of Washington were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EXPD. Boothbay Fund Management LLC bought a new stake in Expeditors International of Washington during the fourth quarter valued at about $232,000. Benjamin Edwards Inc. grew its holdings in Expeditors International of Washington by 1.1% during the fourth quarter. Benjamin Edwards Inc. now owns 62,731 shares of the transportation company's stock valued at $6,949,000 after purchasing an additional 683 shares during the period. Bayesian Capital Management LP bought a new stake in Expeditors International of Washington during the fourth quarter valued at about $2,484,000. Baird Financial Group Inc. grew its holdings in Expeditors International of Washington by 2.2% during the fourth quarter. Baird Financial Group Inc. now owns 1,760,546 shares of the transportation company's stock valued at $195,016,000 after purchasing an additional 38,177 shares during the period. Finally, Caxton Associates LP bought a new stake in Expeditors International of Washington during the fourth quarter valued at about $1,537,000. Hedge funds and other institutional investors own 94.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EXPD shares. TD Cowen dropped their price objective on Expeditors International of Washington from $112.00 to $107.00 and set a "sell" rating for the company in a research note on Wednesday, May 7th. Barclays dropped their price objective on Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research note on Wednesday, May 7th. Truist Financial upped their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Robert W. Baird started coverage on Expeditors International of Washington in a research note on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price objective for the company. Finally, UBS Group upped their price objective on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Seven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $114.22.

Insider Activity

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the sale, the vice president directly owned 7,651 shares of the company's stock, valued at $903,200.55. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by insiders.

Expeditors International of Washington Price Performance

Shares of NASDAQ:EXPD traded up $0.68 during trading on Thursday, hitting $121.08. The company had a trading volume of 280,315 shares, compared to its average volume of 1,354,433. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a one year low of $100.47 and a one year high of $131.59. The company has a fifty day simple moving average of $117.43 and a two-hundred day simple moving average of $114.98.

Expeditors International of Washington Company Profile

Expeditors International of Washington, Inc, together with its subsidiaries, provides logistics services worldwide. The company offers airfreight services, such as air freight consolidation and forwarding; ocean freight and ocean services, including ocean freight consolidation, direct ocean forwarding, and order management; customs brokerage, import, intra-continental ground transportation and delivery, and warehousing and distribution services; and customs clearance, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.