Inspire Investing LLC Buys 11,068 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Inspire Investing LLC has significantly increased its stake in Expeditors International of Washington, raising its ownership by 106.7% to 21,441 shares, now valued at approximately $2.58 million.
• Various institutional investors have also initiated new positions in the company, with 94.02% of Expeditors' stock reportedly owned by institutional investors.
• Recent analyst ratings indicate a mixed outlook, with a consensus rating of "Reduce" and a price target averaging $114.78 for Expeditors International's stock.

Inspire Investing LLC grew its stake in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 106.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,441 shares of the transportation company's stock after acquiring an additional 11,068 shares during the period. Inspire Investing LLC's holdings in Expeditors International of Washington were worth $2,578,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EXPD. Alpine Bank Wealth Management purchased a new stake in shares of Expeditors International of Washington during the first quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new position in Expeditors International of Washington in the 1st quarter worth about $30,000. Garde Capital Inc. acquired a new stake in Expeditors International of Washington during the 1st quarter worth about $37,000. Ransom Advisory Ltd purchased a new stake in Expeditors International of Washington during the first quarter valued at about $41,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Expeditors International of Washington in the fourth quarter worth about $42,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Expeditors International of Washington Trading Up 0.8%

NASDAQ EXPD traded up $0.96 on Wednesday, reaching $125.76. The stock had a trading volume of 170,624 shares, compared to its average volume of 1,339,940. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The business has a 50 day moving average price of $118.48 and a 200 day moving average price of $115.32. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 5.00 and a beta of 1.06.

Analysts Set New Price Targets

EXPD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and boosted their target price for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Barclays increased their target price on Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a report on Thursday, September 11th. Truist Financial lifted their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, UBS Group increased 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 equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Expeditors International of Washington presently has a consensus rating of "Reduce" and an average price target of $114.78.

Insider Buying and Selling

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of the 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 transaction, the vice president owned 7,651 shares in the company, valued at approximately $903,200.55. This represents a 16.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

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.