State Street Corp Sells 421,367 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

State Street Corp lessened its stake in Frontdoor, Inc. (NASDAQ:FTDR - Free Report) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,660,130 shares of the company's stock after selling 421,367 shares during the quarter. State Street Corp owned approximately 4.83% of Frontdoor worth $175,650,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FTDR. Exchange Traded Concepts LLC bought a new position in Frontdoor during the 3rd quarter valued at $27,000. V Square Quantitative Management LLC bought a new position in shares of Frontdoor during the third quarter valued at about $31,000. Isthmus Partners LLC lifted its position in shares of Frontdoor by 0.5% during the second quarter. Isthmus Partners LLC now owns 110,249 shares of the company's stock valued at $37,000 after purchasing an additional 603 shares in the last quarter. Quarry LP boosted its holdings in Frontdoor by 468.1% during the second quarter. Quarry LP now owns 1,085 shares of the company's stock worth $37,000 after purchasing an additional 894 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Frontdoor by 89.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,667 shares of the company's stock worth $80,000 after purchasing an additional 788 shares in the last quarter.

Frontdoor Stock Performance

Shares of NASDAQ:FTDR traded down $0.55 during mid-day trading on Friday, reaching $58.76. The company had a trading volume of 155,496 shares, compared to its average volume of 702,530. Frontdoor, Inc. has a one year low of $29.41 and a one year high of $60.42. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16. The company's 50-day moving average price is $54.24 and its 200-day moving average price is $45.78. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 19.64 and a beta of 1.08.

Frontdoor (NASDAQ:FTDR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $540.00 million for the quarter, compared to analysts' expectations of $541.88 million. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. As a group, equities research analysts anticipate that Frontdoor, Inc. will post 3.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kathryn M. Collins sold 25,784 shares of the firm'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 transaction, the senior vice president now directly owns 9,429 shares of the company's stock, valued at approximately $547,447.74. This trade represents a 73.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Evan Iverson sold 16,000 shares of the company's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 4,955 shares of the company's stock, valued at approximately $291,552.20. This represents a 76.35 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

FTDR has been the subject of several recent analyst reports. Truist Financial upped their target price on Frontdoor from $56.00 to $58.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped their price objective on Frontdoor from $41.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Frontdoor currently has an average rating of "Hold" and an average price target of $49.50.

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.