Sands Capital Management LLC Sells 73,426 Shares of HDFC Bank Limited $HDB

Sands Capital Management LLC decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,117,362 shares of the bank’s stock after selling 73,426 shares during the period. Sands Capital Management LLC’s holdings in HDFC Bank were worth $223,528,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDB. Larson Financial Group LLC raised 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 valued at $29,000 after purchasing an additional 403 shares during the last quarter. Accent Capital Management LLC raised 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 valued at $31,000 after purchasing an additional 459 shares during the last quarter. Clearstead Advisors LLC raised its position in HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in HDFC Bank by 100.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 996 shares of the bank’s stock valued at $34,000 after purchasing an additional 498 shares during the last quarter. Finally, Graney & King LLC raised its position in HDFC Bank by 100.0% during the 3rd quarter. Graney & King LLC now owns 1,200 shares of the bank’s stock valued at $41,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Insider Buying and Selling

In other HDFC Bank news, insider N Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $8.72, for a total transaction of $87,200.00. Following the transaction, the insider owned 638,422 shares in the company, valued at approximately $5,567,039.84. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashish Parthasarthy sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $8.94, for a total value of $53,640.00. Following the transaction, the insider owned 848,558 shares in the company, valued at $7,586,108.52. This trade represents a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,600 shares of company stock worth $271,660 in the last quarter. Company insiders own 1.00% of the company’s stock.

HDFC Bank Stock Performance

HDB stock opened at $24.15 on Monday. HDFC Bank Limited has a fifty-two week low of $22.91 and a fifty-two week high of $39.81. The business’s 50 day moving average price is $25.00 and its two-hundred day moving average price is $29.88. The company has a market capitalization of $123.21 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.12 and a beta of 0.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of HDFC Bank in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, HDFC Bank 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).