Principal Financial Group Inc. Takes $591,000 Position in Despegar.com, Corp. (NYSE:DESP)

Principal Financial Group Inc. bought a new position in Despegar.com, Corp. (NYSE:DESP) in the third quarter, Holdings Channel reports. The firm bought 47,634 shares of the company’s stock, valued at approximately $591,000.

A number of other institutional investors also recently bought and sold shares of the stock. US Bancorp DE purchased a new position in Despegar.com during the 3rd quarter worth approximately $332,000. Deltec Asset Management LLC purchased a new position in Despegar.com during the 3rd quarter worth approximately $1,029,000. Sanctuary Advisors LLC purchased a new position in Despegar.com during the 2nd quarter worth approximately $128,000. Coronation Fund Managers Ltd. purchased a new position in Despegar.com during the 2nd quarter worth approximately $13,936,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Despegar.com during the 2nd quarter worth approximately $331,000. 67.93% of the stock is currently owned by institutional investors and hedge funds.

Despegar.com Trading Up 1.4 %

Shares of NYSE:DESP opened at $18.75 on Monday. The firm’s 50-day moving average is $14.17 and its two-hundred day moving average is $13.25. Despegar.com, Corp. has a 1 year low of $7.83 and a 1 year high of $19.00.

Analysts Set New Price Targets

DESP has been the subject of several recent research reports. TD Cowen lifted their target price on shares of Despegar.com from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 target price on shares of Despegar.com in a report on Friday, August 16th.

About Despegar.com

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.