Parallel Advisors LLC Reduces Holdings in Expeditors International of Washington, Inc. $EXPD

Key Points

• Parallel Advisors LLC reduced its stake in Expeditors International of Washington by 26.2% during the second quarter, owning 7,403 shares valued at $846,000.
• Several hedge funds significantly increased their positions in Expeditors International, with Worldquant Millennium Advisors raising its stake by an astonishing 3,471.2%.
• Analyst ratings on Expeditors are mixed, with upgrades and downgrades leading to an average rating of "Reduce" and a consensus target price of $114.78.

Parallel Advisors LLC lessened its position in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 26.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,403 shares of the transportation company's stock after selling 2,631 shares during the period. Parallel Advisors LLC's holdings in Expeditors International of Washington were worth $846,000 as of its most recent SEC filing.

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

Expeditors International of Washington Stock Performance

NASDAQ:EXPD traded down $0.60 during mid-day trading on Monday, reaching $119.55. The stock had a trading volume of 1,374,465 shares, compared to its average volume of 1,357,001. Expeditors International of Washington, Inc. has a twelve month low of $100.47 and a twelve month high of $131.59. The business has a 50 day simple moving average of $118.90 and a 200 day simple moving average of $115.34. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 5.00 and a beta of 1.06.

Analysts Set New Price Targets

Several analysts have recently weighed in on EXPD shares. Robert W. Baird assumed coverage on shares of Expeditors International of Washington in a research report on Tuesday, July 1st. They set a "neutral" rating and a $124.00 price objective for the company. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and upped their price objective for the company from $117.00 to $118.00 in a research note on Friday, July 11th. UBS Group lifted their target price on Expeditors International of Washington from $117.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Truist Financial upped their target price 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. Finally, Baird R W raised 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Expeditors International of Washington presently has a consensus rating of "Reduce" and a consensus target price of $114.78.

Insider Buying and Selling

In other 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.69% of the company's stock.

About Expeditors International of Washington

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.