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

Key Points

• Teza Capital Management LLC reduced its holdings in Expeditors International of Washington by 62.8% during the first quarter, now owning only 4,512 shares worth approximately $543,000.
• Several institutional investors, including Alpine Bank Wealth Management and Zions Bancorporation, have also recently purchased positions in Expeditors International, indicating a high level of institutional interest with 94.02% of the stock held by such investors.
• Expeditors International's stock currently trades around $120.96, with a 52-week range between $100.47 and $131.59, and several analysts have given it a mixed assessment, with some assigning Hold and others Sell ratings.

Teza Capital Management LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 62.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,512 shares of the transportation company's stock after selling 7,623 shares during the quarter. Teza Capital Management LLC's holdings in Expeditors International of Washington were worth $543,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EXPD. Wealth Enhancement Advisory Services LLC increased its position in shares of Expeditors International of Washington by 53.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 160,855 shares of the transportation company's stock valued at $19,343,000 after purchasing an additional 56,008 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Expeditors International of Washington by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,392 shares of the transportation company's stock valued at $1,971,000 after purchasing an additional 430 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Expeditors International of Washington by 17.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,546 shares of the transportation company's stock valued at $667,000 after purchasing an additional 834 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Expeditors International of Washington by 2.4% in the 1st quarter. Brown Advisory Inc. now owns 10,390 shares of the transportation company's stock valued at $1,249,000 after purchasing an additional 246 shares during the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Expeditors International of Washington in the 1st quarter valued at approximately $203,000. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Expeditors International of Washington

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America downgraded shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their price objective for the company from $117.00 to $118.00 in a research report on Friday, July 11th. Robert W. Baird started coverage on shares of Expeditors International of Washington in a research report on Tuesday, July 1st. They issued a "neutral" rating and a $124.00 price objective on the stock. Baird R W raised shares of Expeditors International of Washington to a "hold" rating in a research report on Tuesday, July 1st. Truist Financial increased their target price on shares of 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, Barclays increased their target price on shares of Expeditors International of Washington from $105.00 to $110.00 and gave the company an "underweight" rating in a research report on Thursday. Seven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $114.78.

Expeditors International of Washington Stock Up 0.2%

NASDAQ:EXPD traded up $0.26 during trading hours on Friday, reaching $123.61. 1,058,851 shares of the company's stock were exchanged, compared to its average volume of 1,352,780. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 5.00 and a beta of 1.06. The company has a 50-day moving average of $118.17 and a 200 day moving average of $115.22. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59.

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.