Geode Capital Management LLC Grows Position in Frontdoor, Inc. (NASDAQ:FTDR)

Geode Capital Management LLC increased its position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 3.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,113,474 shares of the company's stock after buying an additional 74,542 shares during the quarter. Geode Capital Management LLC owned about 2.79% of Frontdoor worth $101,442,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Frontdoor during the third quarter worth about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Frontdoor during the third quarter worth $31,000. Isthmus Partners LLC grew its position in Frontdoor by 0.5% in the 2nd quarter. Isthmus Partners LLC now owns 110,249 shares of the company's stock valued at $37,000 after buying an additional 603 shares during the last quarter. Quarry LP grew its position in Frontdoor by 468.1% in the 2nd quarter. Quarry LP now owns 1,085 shares of the company's stock valued at $37,000 after buying an additional 894 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Frontdoor by 89.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,667 shares of the company's stock valued at $80,000 after buying an additional 788 shares during the period.

Wall Street Analyst Weigh In

Several research firms 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 research note on Tuesday, November 5th. Truist Financial raised their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. One 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $49.50.

Insider Transactions at Frontdoor

In other 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 value of $941,440.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kathryn M. Collins sold 25,784 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $58.06, for a total transaction of $1,497,019.04. Following the completion of the sale, the senior vice president now owns 9,429 shares in the company, valued at $547,447.74. This represents a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.

Frontdoor Price Performance

NASDAQ:FTDR traded down $0.31 during trading hours on Thursday, hitting $55.41. The company's stock had a trading volume of 611,573 shares, compared to its average volume of 701,762. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $60.42. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42. The business's 50-day moving average is $54.86 and its two-hundred day moving average is $46.42. The company has a market capitalization of $4.20 billion, a PE ratio of 18.35 and a beta of 1.08.

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

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.