Gilder Gagnon Howe & Co. LLC Lowers Position in HDFC Bank Ltd. (HDB)
Gilder Gagnon Howe & Co. LLC reduced its stake in shares of HDFC Bank Ltd. (NYSE:HDB) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 1,040,857 shares of the company’s stock after selling 24,657 shares during the period. HDFC Bank makes up 1.4% of Gilder Gagnon Howe & Co. LLC’s investment portfolio, making the stock its 17th largest position. Gilder Gagnon Howe & Co. LLC’s holdings in HDFC Bank were worth $69,061,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in HDB. Creative Planning boosted its stake in HDFC Bank by 226.4% in the second quarter. Creative Planning now owns 2,125 shares of the company’s stock valued at $141,000 after buying an additional 1,474 shares during the last quarter. Trillium Asset Management LLC bought a new stake in HDFC Bank during the second quarter valued at $211,000. 1st Global Advisors Inc. boosted its stake in HDFC Bank by 10.5% in the second quarter. 1st Global Advisors Inc. now owns 5,122 shares of the company’s stock valued at $340,000 after buying an additional 488 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in HDFC Bank during the second quarter valued at $537,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in HDFC Bank by 73.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,038 shares of the company’s stock valued at $557,000 after buying an additional 3,820 shares during the last quarter. Institutional investors and hedge funds own 17.54% of the company’s stock.
Shares of HDFC Bank Ltd. (NYSE:HDB) traded down 0.43% on Wednesday, reaching $72.53. 197,780 shares of the company’s stock were exchanged. HDFC Bank Ltd. has a 12 month low of $51.11 and a 12 month high of $74.04. The firm’s 50-day moving average price is $72.25 and its 200 day moving average price is $67.51. The company has a market cap of $366.74 billion, a price-to-earnings ratio of 192.64 and a beta of 1.23.
Separately, Goldman Sachs Group Inc. upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 2nd.
About HDFC Bank
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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