Assenagon Asset Management S.A. Sells 19,351 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Assenagon Asset Management S.A. reduced its stake in Expeditors International of Washington by 66.9%, selling 19,351 shares and leaving it with 9,557 shares valued at approximately $1,092,000.
• Several institutional investors significantly increased their holdings in Expeditors International during the first quarter, including Invesco Ltd., which boosted its position by 23.4%.
• The current market capitalization of Expeditors International of Washington is $16.55 billion, with shares trading at around $121.92, reflecting a 1-year high of $131.59 and a low of $100.47.

Assenagon Asset Management S.A. trimmed its holdings in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 66.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,557 shares of the transportation company's stock after selling 19,351 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Expeditors International of Washington were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EXPD. Invesco Ltd. boosted its holdings in shares of Expeditors International of Washington by 23.4% in the first quarter. Invesco Ltd. now owns 3,039,899 shares of the transportation company's stock worth $365,548,000 after acquiring an additional 576,468 shares during the period. GAMMA Investing LLC grew its holdings in shares of Expeditors International of Washington by 13,910.4% during the 1st quarter. GAMMA Investing LLC now owns 507,455 shares of the transportation company's stock worth $61,021,000 after acquiring an additional 503,833 shares during the period. Boston Partners boosted its position in shares of Expeditors International of Washington by 13.1% in the 1st quarter. Boston Partners now owns 4,295,924 shares of the transportation company's stock worth $516,385,000 after purchasing an additional 498,212 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Expeditors International of Washington by 516.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 576,391 shares of the transportation company's stock valued at $69,311,000 after acquiring an additional 482,814 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Expeditors International of Washington during the 1st quarter valued at $43,816,000. 94.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Expeditors International of Washington

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $118.05, for a total value of $173,533.50. Following the completion of the transaction, the vice president owned 7,651 shares of the company's stock, valued at $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Expeditors International of Washington Stock Performance

Shares of Expeditors International of Washington stock opened at $121.92 on Friday. The company has a market capitalization of $16.55 billion, a P/E ratio of 21.32, a PEG ratio of 5.00 and a beta of 1.06. The company's fifty day moving average is $119.56 and its two-hundred day moving average is $115.43. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a report on Tuesday, July 1st. Barclays boosted their price objective 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. UBS Group boosted their target price on shares of Expeditors International of Washington from $117.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Seven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Expeditors International of Washington has an average rating of "Reduce" and a consensus target price of $114.78.

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.

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