Jennison Associates LLC Has $1.10 Million Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Jennison Associates LLC cut its position in Frontdoor, Inc. (NASDAQ:FTDR) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,108 shares of the company’s stock after selling 2,180 shares during the quarter. Jennison Associates LLC’s holdings in Frontdoor were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Frontdoor by 3.7% in the third quarter. Geode Capital Management LLC now owns 2,113,474 shares of the company’s stock valued at $101,442,000 after buying an additional 74,542 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Frontdoor by 1.2% in the third quarter. Glenmede Trust Co. NA now owns 506,328 shares of the company’s stock valued at $24,299,000 after buying an additional 6,189 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Frontdoor by 8.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 448,572 shares of the company’s stock valued at $21,527,000 after buying an additional 33,380 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Frontdoor by 4.6% in the fourth quarter. Nordea Investment Management AB now owns 263,387 shares of the company’s stock valued at $14,544,000 after buying an additional 11,671 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Frontdoor by 84.0% in the third quarter. Harbor Capital Advisors Inc. now owns 184,408 shares of the company’s stock valued at $8,850,000 after buying an additional 84,167 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on FTDR. Truist Financial lifted their price objective on shares of Frontdoor from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on shares of Frontdoor from $41.00 to $46.00 and gave the stock a “sell” 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Insider Activity

In other news, 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 transaction, the chief operating officer now owns 4,955 shares of the company’s stock, valued at $291,552.20. This represents a 76.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 that occurred on Tuesday, December 10th. The shares were 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 owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Frontdoor Trading Down 2.1 %

Shares of Frontdoor stock opened at $59.58 on Friday. The firm has a 50-day moving average of $57.63 and a 200-day moving average of $51.96. The stock has a market cap of $4.52 billion, a PE ratio of 19.73 and a beta of 1.08. Frontdoor, Inc. has a 52-week low of $29.41 and a 52-week high of $63.49. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.42 and a current ratio of 1.42.

Frontdoor (NASDAQ:FTDR) last announced its 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. The company had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $541.88 million. Frontdoor had a net margin of 12.87% and a return on equity of 132.99%. Frontdoor’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast that Frontdoor, Inc. will post 3.15 EPS for the current 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.