Ashish Parthasarthy Sells 5,600 Shares of HDFC Bank (NYSE:HDB) Stock

Key Points

• Ashish Parthasarthy sold 5,600 HDFC Bank (HDB) ADRs on April 28 at an average of $8.70 for $48,720, leaving him with 842,958 shares (a 0.66% reduction); he also sold 6,000 shares on April 21 at $8.94.
• HDFC Bank trades around $25.17 with a 12‑month range of $23.91–$39.81 and a market cap of about $128.4B, while major institutions (GQG, RBC, Schroders, JPMorgan) have been increasing stakes even as analysts' consensus rating is "Reduce".

HDFC Bank Limited (NYSE:HDB - Get Free Report) insider Ashish Parthasarthy sold 5,600 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $8.70, for a total value of $48,720.00. Following the sale, the insider owned 842,958 shares in the company, valued at approximately $7,333,734.60. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Ashish Parthasarthy also recently made the following trade(s):

• On Tuesday, April 21st, Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00.

HDFC Bank Price Performance

NYSE:HDB traded down $0.10 on Thursday, reaching $25.17. The stock had a trading volume of 1,821,015 shares, compared to its average volume of 8,635,412. HDFC Bank Limited has a 12-month low of $23.91 and a 12-month high of $39.81. The company has a market cap of $128.38 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.19 and a beta of 0.67. The firm's fifty day moving average is $27.64 and its two-hundred day moving average is $32.48.

Institutional Trading of HDFC Bank

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GQG Partners LLC boosted its holdings in HDFC Bank by 1.5% in the fourth quarter. GQG Partners LLC now owns 52,962,709 shares of the bank's stock valued at $1,935,258,000 after acquiring an additional 777,977 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of HDFC Bank by 31.0% in the 4th quarter. Royal Bank of Canada now owns 39,897,767 shares of the bank's stock worth $1,457,865,000 after purchasing an additional 9,451,992 shares during the period. Schroder Investment Management Group raised its holdings in shares of HDFC Bank by 4.1% in the 4th quarter. Schroder Investment Management Group now owns 26,264,726 shares of the bank's stock worth $959,713,000 after purchasing an additional 1,043,596 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of HDFC Bank by 6.8% in the 4th quarter. JPMorgan Chase & Co. now owns 20,504,634 shares of the bank's stock valued at $749,239,000 after purchasing an additional 1,299,851 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of HDFC Bank by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,884,943 shares of the bank's stock valued at $474,310,000 after purchasing an additional 7,147,440 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on HDB. Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce".

About HDFC Bank

HDFC Bank Limited is one of India's leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank's core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).

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