US Bancorp DE Sells 23,417 Shares of Despegar.com, Corp. (NYSE:DESP)

US Bancorp DE reduced its holdings in shares of Despegar.com, Corp. (NYSE:DESP) by 87.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,372 shares of the company’s stock after selling 23,417 shares during the period. US Bancorp DE’s holdings in Despegar.com were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP raised its position in Despegar.com by 107.1% during the 3rd quarter. Quarry LP now owns 2,769 shares of the company’s stock valued at $34,000 after purchasing an additional 1,432 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Despegar.com during the 3rd quarter worth $56,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Despegar.com during the 4th quarter valued at about $104,000. FMR LLC purchased a new stake in Despegar.com during the 3rd quarter valued at about $173,000. Finally, Intech Investment Management LLC purchased a new stake in Despegar.com during the 3rd quarter valued at about $252,000. 67.93% of the stock is owned by institutional investors.

Despegar.com Stock Performance

DESP stock opened at $19.22 on Tuesday. The business has a 50 day simple moving average of $19.22 and a 200-day simple moving average of $16.57. Despegar.com, Corp. has a 1 year low of $9.25 and a 1 year high of $19.55.

Analyst Ratings Changes

DESP has been the subject of several analyst reports. B. Riley cut Despegar.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Morgan Stanley increased their target price on Despegar.com from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, TD Cowen upgraded Despegar.com from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Despegar.com presently has a consensus rating of “Hold” and a consensus target price of $17.20.

Despegar.com Company 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.