Principal Financial Group Inc. Buys Shares of 47,634 Despegar.com, Corp. (NYSE:DESP)

Principal Financial Group Inc. purchased a new stake in Despegar.com, Corp. (NYSE:DESP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 47,634 shares of the company’s stock, valued at approximately $591,000. Principal Financial Group Inc. owned 0.07% of Despegar.com as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Despegar.com in the second quarter valued at $2,618,000. Rhumbline Advisers acquired a new stake in shares of Despegar.com during the 2nd quarter valued at approximately $1,159,000. MayTech Global Investments LLC purchased a new stake in shares of Despegar.com during the 2nd quarter worth approximately $11,836,000. Amalgamated Bank acquired a new stake in Despegar.com in the second quarter valued at $28,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Despegar.com during the 2nd quarter worth $1,102,000. Hedge funds and other institutional investors own 67.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DESP shares. Morgan Stanley raised their target price on shares of Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.20.

Despegar.com Price Performance

Despegar.com stock opened at $19.15 on Monday. Despegar.com, Corp. has a one year low of $8.06 and a one year high of $19.55. The stock’s 50 day moving average price is $16.89 and its 200 day moving average price is $14.00.

Despegar.com Profile

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products to leisure and corporate travelers through its websites and mobile applications in Latin America and the United States. The company operates in two segments, Travel Business and Financial Services Business.