Ascent Group LLC Sells 18,390 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Ascent Group LLC reduced its stake in Expeditors International by 85.7%, selling 18,390 shares during the second quarter, leaving it with just 3,058 shares valued at approximately $349,000.
• Expeditors International's stock recently opened at $122.17 and has a market cap of $16.58 billion, with analysts giving it a consensus rating of "Reduce" and a target price of about $114.78.
• Several hedge funds are active in Expeditors International, with institutional investors collectively owning 94.02% of the company's stock, indicating significant institutional interest in the company.

Ascent Group LLC decreased its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 85.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,058 shares of the transportation company's stock after selling 18,390 shares during the quarter. Ascent Group LLC's holdings in Expeditors International of Washington were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the business. Alpine Bank Wealth Management bought a new position in shares of Expeditors International of Washington in the first quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of Expeditors International of Washington in the 1st quarter worth about $30,000. Garde Capital Inc. acquired a new stake in shares of Expeditors International of Washington in the 1st quarter worth about $37,000. Ransom Advisory Ltd bought a new stake in Expeditors International of Washington during the 1st quarter worth approximately $41,000. Finally, Twin Tree Management LP bought a new stake in Expeditors International of Washington during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 94.02% of the company's stock.

Expeditors International of Washington Stock Down 1.2%

EXPD opened at $122.17 on Wednesday. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 5.00 and a beta of 1.09. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $129.15. The company's 50-day moving average price is $120.64 and its two-hundred day moving average price is $115.74.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and raised their price objective for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Truist Financial increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a report on Monday, June 30th. Barclays increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Thursday, September 11th. Finally, Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Seven analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $114.78.

Insider Activity at Expeditors International of Washington

In other Expeditors International of Washington news, VP Jeffrey F. Dickerman sold 1,470 shares of the firm's stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.69% of the company's stock.

Expeditors International of Washington 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.

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