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

Parallel Advisors LLC cut its holdings in shares of Expeditors International of Washington, Inc. (NASDAQ:EXPD) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,403 shares of the transportation company’s stock after selling 2,631 shares during the quarter. Parallel Advisors LLC’s holdings in Expeditors International of Washington were worth $846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EXPD. Tidal Investments LLC raised its holdings in shares of Expeditors International of Washington by 69.9% during the fourth quarter. Tidal Investments LLC now owns 9,287 shares of the transportation company’s stock worth $1,029,000 after purchasing an additional 3,820 shares during the period. Vident Advisory LLC raised its stake in Expeditors International of Washington by 98.1% during the fourth quarter. Vident Advisory LLC now owns 10,986 shares of the transportation company’s stock worth $1,217,000 after acquiring an additional 5,439 shares during the period. Woodline Partners LP bought a new position in Expeditors International of Washington in the fourth quarter worth about $931,000. Worldquant Millennium Advisors LLC boosted its stake in Expeditors International of Washington by 3,471.2% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 144,064 shares of the transportation company’s stock valued at $15,958,000 after acquiring an additional 140,030 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Expeditors International of Washington by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,428,914 shares of the transportation company’s stock valued at $269,051,000 after acquiring an additional 27,965 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EXPD has been the subject of a number of analyst reports. Baird R W upgraded Expeditors International of Washington to a “hold” rating in a research report on Tuesday, July 1st. Truist Financial boosted their price target on Expeditors International of Washington from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Bank of America lowered Expeditors International of Washington from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $117.00 to $118.00 in a research report on Friday, July 11th. UBS Group boosted their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on 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. Seven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price 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 stock was sold at an average price of $118.05, for a total value of $173,533.50. Following the transaction, the vice president directly owned 7,651 shares in the company, valued at approximately $903,200.55. This trade represents a 16.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Expeditors International of Washington Trading Down 0.7%

Shares of EXPD opened at $124.06 on Friday. Expeditors International of Washington, Inc. has a 1 year low of $100.47 and a 1 year high of $131.59. The stock has a 50 day simple moving average of $118.72 and a 200-day simple moving average of $115.43. The stock has a market cap of $16.84 billion, a PE ratio of 21.69, a PEG ratio of 5.00 and a beta of 1.06.

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.