Expeditors International of Washington, Inc. $EXPD Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC reduced its stake in Expeditors International of Washington by 47.7%, selling 239,827 shares and owning 0.19% of the company, valued at approximately $31.57 million.
• Several institutional investors have increased their positions in Expeditors International, with Jacobs Levy Equity Management leading with a 516% increase, now holding 576,391 shares.
• Analysts have mixed opinions on the stock, with seven rating it as "Hold" and five as "Sell"; the average target price is set at $114.22.

Millennium Management LLC decreased its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 47.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 262,499 shares of the transportation company's stock after selling 239,827 shares during the quarter. Millennium Management LLC owned approximately 0.19% of Expeditors International of Washington worth $31,566,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of Expeditors International of Washington by 3.1% in the 4th quarter. Captrust Financial Advisors now owns 3,848 shares of the transportation company's stock valued at $426,000 after acquiring an additional 115 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Expeditors International of Washington in the fourth quarter valued at approximately $432,000. Numerai GP LLC bought a new position in Expeditors International of Washington in the fourth quarter valued at approximately $275,000. NorthRock Partners LLC bought a new stake in shares of Expeditors International of Washington during the fourth quarter worth $226,000. Finally, Nomura Holdings Inc. lifted its holdings in Expeditors International of Washington by 33.8% during the 4th quarter. Nomura Holdings Inc. now owns 13,824 shares of the transportation company's stock worth $1,531,000 after buying an additional 3,493 shares during the period. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

Shares of NASDAQ EXPD traded up $0.26 during midday trading on Friday, reaching $123.61. The stock had a trading volume of 1,058,851 shares, compared to its average volume of 1,352,780. The stock has a 50-day moving average of $118.17 and a 200-day moving average of $115.24. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06. Expeditors International of Washington, Inc. has a 12-month low of $100.47 and a 12-month high of $131.59.

Analyst Ratings Changes

EXPD has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. UBS Group raised their price objective 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. Barclays lifted their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Thursday. Bank of America lowered shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their target price for the company from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, Truist Financial boosted their price objective on shares of 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. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Expeditors International of Washington presently has an average rating of "Reduce" and an average price target of $114.78.

Insider Buying and Selling

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

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.