Frontdoor (NASDAQ:FTDR) CEO Sells $7,250,616.21 in Stock

Frontdoor Inc. (NASDAQ:FTDR) CEO William Cobb sold 73,113 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $99.17, for a total transaction of $7,250,616.21. Following the completion of the sale, the chief executive officer owned 184,335 shares of the company’s stock, valued at $18,280,501.95. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Frontdoor Price Performance

Shares of NASDAQ FTDR traded up $1.16 during mid-day trading on Friday, reaching $96.58. The company’s stock had a trading volume of 533,036 shares, compared to its average volume of 621,814. The stock has a 50-day moving average of $82.27 and a two-hundred day moving average of $70.93. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $6.53 billion, a P/E ratio of 24.15 and a beta of 1.60. Frontdoor Inc. has a 1-year low of $48.90 and a 1-year high of $103.07.

Frontdoor (NASDAQ:FTDR) last posted its quarterly earnings results on Thursday, November 5th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $655.00 million for the quarter, compared to analyst estimates of $647.73 million. Frontdoor had a net margin of 12.96% and a return on equity of 124.74%. Frontdoor’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. On average, equities research analysts anticipate that Frontdoor Inc. will post 4.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on FTDR shares. The Goldman Sachs Group lifted their price objective on Frontdoor from $81.00 to $93.00 and gave the stock a “neutral” rating in a research report on Monday. Truist Financial boosted their price objective on Frontdoor from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Benchmark upped their target price on Frontdoor from $80.00 to $96.00 and gave the company a “buy” rating in a report on Friday, August 7th. Oppenheimer raised their target price on Frontdoor from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. started coverage on Frontdoor in a research note on Monday, August 24th. They issued a “neutral” rating and a $95.00 target price for the company. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTDR. BlackRock Inc. acquired a new stake in shares of Frontdoor in the second quarter valued at $859,552,000. Renaissance Technologies LLC lifted its stake in Frontdoor by 1.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,849,787 shares of the company’s stock worth $97,780,000 after acquiring an additional 23,800 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in Frontdoor by 4.0% during the 2nd quarter. Reinhart Partners LLC. now owns 1,684,065 shares of the company’s stock valued at $130,668,000 after acquiring an additional 64,561 shares during the period. Jupiter Topco LLC purchased a new position in Frontdoor during the 2nd quarter valued at about $113,873,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Frontdoor by 0.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,461,003 shares of the company’s stock valued at $77,229,000 after acquiring an additional 7,145 shares in the last quarter.

About Frontdoor

Frontdoor, Inc. provides home service plans and repair solutions in the United States. Its plans help homeowners manage the cost of repairing or replacing covered home systems and appliances, such as heating and cooling equipment, plumbing, and kitchen appliances. The company serves customers through brands including American Home Shield, HSA Home Warranty, and OneGuard Home Warranties. It also connects customers with a network of independent service contractors and offers digital tools and support to help arrange home repairs.