Swedbank AB Sells 9,103 Shares of Expeditors International of Washington, Inc. $EXPD

Key Points

• Swedbank AB reduced its stake in Expeditors International of Washington by 41.5%, selling 9,103 shares and holding 12,807 shares worth approximately $1.54 million.
• Several large investors have acquired new stakes in Expeditors International this quarter, with institutional investors owning 94.02% of the company's stock.
• Analysts have varied opinions on the stock, with ratings ranging from "underweight" to "hold," and a consensus price target set at $114.78.

Swedbank AB cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 41.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,807 shares of the transportation company's stock after selling 9,103 shares during the period. Swedbank AB's holdings in Expeditors International of Washington were worth $1,540,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Alpine Bank Wealth Management purchased a new stake in shares of Expeditors International of Washington in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in Expeditors International of Washington during the first quarter worth about $30,000. Garde Capital Inc. acquired a new stake in Expeditors International of Washington during the first quarter worth about $37,000. Ransom Advisory Ltd acquired a new stake in shares of Expeditors International of Washington during the first quarter valued at about $41,000. Finally, Twin Tree Management LP purchased a new position in shares of Expeditors International of Washington in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 94.02% of the company's stock.

Insider Transactions at Expeditors International of Washington

In related news, VP Jeffrey F. Dickerman sold 1,470 shares of Expeditors International of Washington stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $118.05, for a total transaction of $173,533.50. Following the transaction, the vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EXPD. Truist Financial lifted their price target 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. Baird R W upgraded shares of Expeditors International of Washington to a "hold" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on shares of Expeditors International of Washington from $105.00 to $107.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and lifted their price target for the stock from $117.00 to $118.00 in a research note on Friday, July 11th. Finally, Barclays lifted their price target on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the stock an "underweight" rating in a research note on Thursday, September 11th. Seven investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $114.78.

Expeditors International of Washington Price Performance

EXPD traded down $3.97 during trading hours on Friday, hitting $120.08. 3,417,703 shares of the stock were exchanged, compared to its average volume of 1,356,904. Expeditors International of Washington, Inc. has a 12 month low of $100.47 and a 12 month high of $131.59. The stock has a 50-day simple moving average of $118.81 and a 200-day simple moving average of $115.44. The stock has a market cap of $16.30 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 5.00 and a beta of 1.06.

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.