Financial Advisors Network Inc. Sells 31,288 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Financial Advisors Network Inc. significantly reduced its stake in Expeditors International of Washington by 94.6%, leaving it with just 1,783 shares valued at $214,000.
• Multiple institutional investors have increased their holdings, with Invesco Ltd. raising its position by 23.4% and GAMMA Investing LLC by an incredible 13,910.4% during the first quarter.
• Expeditors International's stock has an average rating of "Hold" with a target price of $114.22, despite mixed reviews from analysts regarding its performance.

Financial Advisors Network Inc. reduced its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 94.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,783 shares of the transportation company's stock after selling 31,288 shares during the quarter. Financial Advisors Network Inc.'s holdings in Expeditors International of Washington were worth $214,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Brooklyn Investment Group lifted its holdings in Expeditors International of Washington by 8.6% during the 1st quarter. Brooklyn Investment Group now owns 1,941 shares of the transportation company's stock valued at $233,000 after purchasing an additional 153 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Expeditors International of Washington during the 1st quarter worth about $1,443,000. Raymond James Financial Inc. lifted its stake in shares of Expeditors International of Washington by 10.3% during the 1st quarter. Raymond James Financial Inc. now owns 367,134 shares of the transportation company's stock worth $44,148,000 after buying an additional 34,325 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Expeditors International of Washington by 43.4% during the 1st quarter. Cresset Asset Management LLC now owns 59,991 shares of the transportation company's stock worth $7,214,000 after buying an additional 18,157 shares during the period. Finally, Alliance Wealth Advisors LLC UT acquired a new position in Expeditors International of Washington in the 1st quarter valued at about $294,000. Institutional investors own 94.02% of the company's stock.

Insider Activity at Expeditors International of Washington

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

Expeditors International of Washington Price Performance

EXPD traded up $1.5010 during trading on Friday, hitting $119.9110. 1,045,338 shares of the stock traded hands, compared to its average volume of 1,365,306. The business has a 50 day moving average price of $116.26 and a 200 day moving average price of $114.48. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 5.00 and a beta of 1.05.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EXPD. JPMorgan Chase & Co. raised 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. 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 target for the company. Bank of America cut Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their price objective for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. Barclays dropped their price target on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating for the company in a research report on Wednesday, May 7th. Finally, Baird R W upgraded Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $114.22.

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.