Nordea Investment Management AB Purchases 11,671 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Nordea Investment Management AB raised its holdings in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,387 shares of the company's stock after purchasing an additional 11,671 shares during the quarter. Nordea Investment Management AB owned approximately 0.35% of Frontdoor worth $14,544,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Frontdoor by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company's stock valued at $101,442,000 after buying an additional 74,542 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Frontdoor by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company's stock valued at $60,402,000 after acquiring an additional 89,301 shares in the last quarter. Renaissance Technologies LLC increased its position in Frontdoor by 23.2% during the second quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company's stock worth $52,257,000 after acquiring an additional 291,700 shares during the period. Millennium Management LLC raised its stake in Frontdoor by 440.4% in the 2nd quarter. Millennium Management LLC now owns 908,904 shares of the company's stock worth $30,712,000 after purchasing an additional 740,711 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings 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 purchasing an additional 6,189 shares during the period.

Insider Transactions at Frontdoor

In related news, COO Evan Iverson sold 16,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $58.84, for a total transaction of $941,440.00. Following the sale, the chief operating officer now owns 4,955 shares of the company's stock, valued at $291,552.20. This trade represents a 76.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $58.06, for a total value of $1,497,019.04. Following the sale, the senior vice president now directly owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FTDR. The Goldman Sachs Group raised their target price on shares of Frontdoor from $41.00 to $46.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Truist Financial raised their price objective on Frontdoor from $56.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Frontdoor has a consensus rating of "Hold" and a consensus price target of $49.50.

Frontdoor Price Performance

Shares of NASDAQ FTDR traded up $1.63 during trading hours on Thursday, hitting $56.68. 735,327 shares of the stock were exchanged, compared to its average volume of 565,005. The company's fifty day simple moving average is $56.49 and its two-hundred day simple moving average is $48.58. The company has a market cap of $4.30 billion, a PE ratio of 18.77 and a beta of 1.08. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. Frontdoor, Inc. has a 1-year low of $29.41 and a 1-year high of $60.42.

Frontdoor (NASDAQ:FTDR - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm had revenue of $540.00 million for the quarter, compared to the consensus estimate of $541.88 million. During the same quarter last year, the business posted $0.94 EPS. The company's revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts predict that Frontdoor, Inc. will post 3.14 EPS for the current year.

About Frontdoor

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.