Essex Investment Management Co. LLC lessened its holdings in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,174 shares of the company's stock after selling 8,650 shares during the period. Essex Investment Management Co. LLC owned about 0.08% of Frontdoor worth $3,235,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Frontdoor by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company's stock worth $101,442,000 after purchasing an additional 74,542 shares in the last quarter. Glenmede Trust Co. NA raised its position in Frontdoor by 1.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 506,328 shares of the company's stock valued at $24,299,000 after buying an additional 6,189 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Frontdoor by 8.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 448,572 shares of the company's stock valued at $21,527,000 after acquiring an additional 33,380 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Frontdoor by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 399,821 shares of the company's stock worth $21,858,000 after acquiring an additional 11,854 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Frontdoor in the 4th quarter worth $17,465,000.
Insiders Place Their Bets
In other news, COO Evan Iverson sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $58.84, for a total transaction of $941,440.00. Following the completion of the sale, the chief operating officer now owns 4,955 shares in the company, valued at $291,552.20. This trade represents a 76.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on FTDR shares. The Goldman Sachs Group dropped their price target on shares of Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Monday, March 3rd. Truist Financial lifted their target price on shares of Frontdoor from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.25.
Check Out Our Latest Research Report on FTDR
Frontdoor Stock Performance
Shares of NASDAQ:FTDR traded down $0.50 during midday trading on Tuesday, reaching $37.91. The company had a trading volume of 878,588 shares, compared to its average volume of 796,128. The stock has a market cap of $2.83 billion, a P/E ratio of 12.55 and a beta of 1.18. The company's 50 day moving average price is $55.72 and its 200 day moving average price is $53.57. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $63.49.
Frontdoor Company Profile
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Free Report)
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.
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