Frontdoor (NASDAQ:FTDR) Stock Price Down 10% - Here's Why

Frontdoor, Inc. (NASDAQ:FTDR - Get Free Report)'s stock price fell 10% on Thursday . The company traded as low as $51.81 and last traded at $51.44. 232,853 shares changed hands during trading, a decline of 63% from the average session volume of 624,226 shares. The stock had previously closed at $57.17.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Monday. Truist Financial lifted their target price on Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $50.25.

Frontdoor Trading Down 10.6 %

The firm's 50 day simple moving average is $57.24 and its 200-day simple moving average is $53.78. The company has a market capitalization of $3.08 billion, a PE ratio of 13.47 and a beta of 1.08. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16.

Insider Activity at Frontdoor

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

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Institutional Trading of Frontdoor

Several large investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in shares of Frontdoor by 514.7% in the fourth quarter. Bessemer Group Inc. now owns 627 shares of the company's stock valued at $34,000 after purchasing an additional 525 shares during the period. USA Financial Formulas acquired a new position in Frontdoor in the 4th quarter worth $60,000. TD Private Client Wealth LLC purchased a new position in Frontdoor in the 3rd quarter valued at about $68,000. Blue Trust Inc. boosted its position in Frontdoor by 315.3% in the 4th quarter. Blue Trust Inc. now owns 1,632 shares of the company's stock valued at $89,000 after buying an additional 1,239 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Frontdoor during the fourth quarter valued at about $96,000.

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.