Expeditors International of Washington, Inc. (NASDAQ:EXPD) Shares Sold by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC reduced its stake in Expeditors International of Washington by 50%, selling 2,203 shares and leaving them with 2,201 shares valued at approximately $264,000.
• Several hedge funds have increased their positions in Expeditors, with ING Groep NV boosting its stake by 547.4% to 32,873 shares worth $3,951,000.
• Expeditors International has received mixed ratings from analysts, with an average target price of $114.22 and several ratings indicating a hold or underperform stance on the stock.

Thoroughbred Financial Services LLC lessened its stake in Expeditors International of Washington, Inc. (NASDAQ:EXPD - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,201 shares of the transportation company's stock after selling 2,203 shares during the period. Thoroughbred Financial Services LLC's holdings in Expeditors International of Washington were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXPD. Orion Portfolio Solutions LLC increased its stake in shares of Expeditors International of Washington by 8.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 2,355 shares of the transportation company's stock worth $261,000 after acquiring an additional 193 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Expeditors International of Washington in the fourth quarter worth $52,000. Federated Hermes Inc. raised its stake in Expeditors International of Washington by 60.9% during the fourth quarter. Federated Hermes Inc. now owns 9,082 shares of the transportation company's stock valued at $1,006,000 after purchasing an additional 3,437 shares in the last quarter. Bank of Montreal Can increased its position in Expeditors International of Washington by 11.9% during the fourth quarter. Bank of Montreal Can now owns 151,875 shares of the transportation company's stock valued at $16,823,000 after acquiring an additional 16,210 shares during the last quarter. Finally, Invesco Ltd. increased its position in Expeditors International of Washington by 10.6% during the fourth quarter. Invesco Ltd. now owns 2,463,431 shares of the transportation company's stock valued at $272,874,000 after acquiring an additional 235,409 shares during the last quarter. Institutional investors own 94.02% of the company's stock.

Expeditors International of Washington Stock Performance

Expeditors International of Washington stock traded up $2.79 during trading on Tuesday, reaching $119.76. The company had a trading volume of 337,984 shares, compared to its average volume of 1,376,793. The firm's 50-day simple moving average is $114.99 and its 200 day simple moving average is $114.07. The firm has a market capitalization of $16.40 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 5.00 and a beta of 1.05. Expeditors International of Washington, Inc. has a 1-year low of $100.47 and a 1-year high of $131.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EXPD. Barclays cut their price target on shares of Expeditors International of Washington from $110.00 to $105.00 and set an "underweight" rating on the stock in a report on Wednesday, May 7th. Bank of America lowered shares of Expeditors International of Washington from a "neutral" rating to an "underperform" rating and increased their price target for the company from $117.00 to $118.00 in a research report on Friday, July 11th. Truist Financial increased their price target 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. 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 report on Tuesday, July 8th. Finally, UBS Group increased 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. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $114.22.

Insiders Place Their Bets

In other news, VP Jeffrey F. Dickerman sold 1,470 shares of the business's 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 completion of the transaction, the vice president directly owned 7,651 shares of the company's stock, valued at approximately $903,200.55. The trade was a 16.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

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.