Insider Selling: Frontdoor, Inc. (NASDAQ:FTDR) COO Sells 16,000 Shares of Stock

Frontdoor, Inc. (NASDAQ:FTDR) COO Evan Iverson sold 16,000 shares of Frontdoor stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at approximately $291,552.20. This represents a 76.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Frontdoor Stock Up 1.2 %

FTDR stock opened at $59.31 on Friday. The company has a 50 day moving average of $54.24 and a two-hundred day moving average of $45.78. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a 12-month low of $29.41 and a 12-month high of $60.42. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 19.64 and a beta of 1.08.

Frontdoor (NASDAQ:FTDR) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.33. Frontdoor had a return on equity of 132.99% and a net margin of 12.87%. The business had revenue of $540.00 million during the quarter, compared to analyst estimates of $541.88 million. During the same period last year, the company earned $0.94 earnings per share. Frontdoor’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Frontdoor, Inc. will post 3.14 earnings per share for the current fiscal year.

Institutional Trading of Frontdoor

Several large investors have recently added to or reduced their stakes in FTDR. Millennium Management LLC boosted its position in Frontdoor by 440.4% during the second 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 during the period. Swedbank AB lifted its position in Frontdoor by 112.7% during the 2nd quarter. Swedbank AB now owns 1,210,600 shares of the company’s stock worth $40,906,000 after acquiring an additional 641,476 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Frontdoor by 23.2% during the second quarter. Renaissance Technologies LLC now owns 1,546,519 shares of the company’s stock valued at $52,257,000 after acquiring an additional 291,700 shares during the period. Victory Capital Management Inc. grew its position in shares of Frontdoor by 8.7% in the second quarter. Victory Capital Management Inc. now owns 2,176,056 shares of the company’s stock valued at $73,529,000 after purchasing an additional 173,624 shares during the last quarter. Finally, Castellan Group acquired a new position in shares of Frontdoor during the 3rd quarter worth about $5,881,000.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Frontdoor from $41.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Truist Financial lifted their price target on Frontdoor from $56.00 to $58.00 and gave the stock a “buy” 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 given a buy rating to the company’s stock. According to MarketBeat.com, Frontdoor presently has an average rating of “Hold” and a consensus 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.