Canada Pension Plan Investment Board Cuts Stake in Frontdoor, Inc. (NASDAQ:FTDR)

Canada Pension Plan Investment Board lowered its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 46.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,700 shares of the company's stock after selling 50,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of Frontdoor worth $3,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wasatch Advisors LP bought a new position in shares of Frontdoor during the 4th quarter worth $56,507,000. Mariner LLC boosted its holdings in shares of Frontdoor by 4.0% during the 4th quarter. Mariner LLC now owns 7,311 shares of the company's stock valued at $400,000 after buying an additional 284 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Frontdoor by 514.7% in the 4th quarter. Bessemer Group Inc. now owns 627 shares of the company's stock worth $34,000 after purchasing an additional 525 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Frontdoor during the 4th quarter valued at $17,465,000. Finally, Martingale Asset Management L P grew its position in Frontdoor by 818.5% in the 4th quarter. Martingale Asset Management L P now owns 45,466 shares of the company's stock worth $2,486,000 after purchasing an additional 40,516 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FTDR shares. JPMorgan Chase & Co. downgraded shares of Frontdoor from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $58.00 to $40.00 in a report on Tuesday. Truist Financial increased their target price on Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group cut their target price on Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.50.

Frontdoor Stock Up 1.4 %

FTDR stock traded up $0.58 during midday trading on Friday, hitting $41.06. The company's stock had a trading volume of 443,022 shares, compared to its average volume of 735,031. Frontdoor, Inc. has a 52-week low of $30.31 and a 52-week high of $63.49. The firm has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $51.12. The firm has a market capitalization of $3.06 billion, a P/E ratio of 13.60 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16.

Frontdoor Company Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.