Frontdoor, Inc. (NASDAQ:FTDR) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 31.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,288 shares of the company's stock after selling 10,092 shares during the quarter. Jennison Associates LLC's holdings in Frontdoor were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Frontdoor by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 10,179,139 shares of the company's stock valued at $331,636,000 after purchasing an additional 373,091 shares in the last quarter. Boston Partners lifted its holdings in shares of Frontdoor by 8.9% in the first quarter. Boston Partners now owns 6,198,543 shares of the company's stock valued at $201,662,000 after purchasing an additional 506,217 shares in the last quarter. Reinhart Partners LLC. grew its position in shares of Frontdoor by 1.8% in the second quarter. Reinhart Partners LLC. now owns 2,330,937 shares of the company's stock valued at $78,762,000 after purchasing an additional 42,169 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Frontdoor by 8.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company's stock worth $73,529,000 after purchasing an additional 173,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Frontdoor by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,539 shares of the company's stock worth $60,402,000 after purchasing an additional 89,301 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their target price on Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on Frontdoor from $45.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, August 12th. William Blair upgraded Frontdoor from a "market perform" rating to an "outperform" rating in a research note on Friday, August 2nd. Finally, Truist Financial lifted their target price on Frontdoor from $56.00 to $58.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Frontdoor has an average rating of "Hold" and an average price target of $49.50.

Frontdoor Stock Up 1.8 %

NASDAQ FTDR traded up $1.02 on Friday, hitting $58.46. 543,567 shares of the stock traded hands, compared to its average volume of 571,434. The company has a market capitalization of $4.43 billion, a P/E ratio of 19.36 and a beta of 1.03. The stock has a 50-day moving average of $51.31 and a 200 day moving average of $43.68. 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 twelve month low of $29.41 and a twelve month high of $59.01.

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