Ashish Parthasarthy Sells 6,000 Shares of HDFC Bank (NYSE:HDB) Stock

Key Points

• Ashish Parthasarthy sold 6,000 shares of HDFC Bank on April 21 at an average price of $8.94 for $53,640, lowering his stake by 0.70% to 848,558 shares (disclosed in an SEC filing).
• HDFC Bank trades as an ADR (opened at $26.49 in the report) with a market cap of $135.12 billion and a P/E of 15.86, while analysts' consensus rating on MarketBeat is "Reduce" following one Hold and one Sell report.

HDFC Bank Limited (NYSE:HDB - Get Free Report) insider Ashish Parthasarthy sold 6,000 shares of HDFC Bank stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $8.94, for a total transaction of $53,640.00. Following the sale, the insider directly owned 848,558 shares in the company, valued at $7,586,108.52. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

HDFC Bank Trading Down 0.3%

Shares of HDFC Bank stock opened at $26.49 on Wednesday. The firm has a market capitalization of $135.12 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.03 and a beta of 0.67. The firm's 50 day moving average is $28.52 and its 200 day moving average is $32.85. HDFC Bank Limited has a 1 year low of $23.91 and a 1 year high of $39.81.

Analyst Ratings Changes

HDB has been the topic of several recent research reports. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Weiss Ratings downgraded shares of HDFC Bank from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank has an average rating of "Reduce".

Institutional Investors Weigh In On HDFC Bank

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its position in HDFC Bank by 90.4% during the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank's stock worth $29,000 after buying an additional 403 shares during the period. Parkside Financial Bank & Trust boosted its position in HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after buying an additional 322 shares during the period. Accent Capital Management LLC boosted its position in HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank's stock worth $31,000 after buying an additional 459 shares during the period. Clearstead Advisors LLC boosted its position in HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank's stock worth $31,000 after buying an additional 739 shares during the period. Finally, Bell Investment Advisors Inc boosted its position in HDFC Bank by 260.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,386 shares of the bank's stock worth $34,000 after buying an additional 1,002 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

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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