Essex Investment Management Co. LLC Sells 8,650 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Essex Investment Management Co. LLC cut its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 59,174 shares of the company’s stock after selling 8,650 shares during the period. Essex Investment Management Co. LLC’s holdings in Frontdoor were worth $3,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. lifted its holdings in shares of Frontdoor by 462.3% in the 4th quarter. Edgestream Partners L.P. now owns 76,836 shares of the company’s stock worth $4,201,000 after buying an additional 63,171 shares during the period. Raymond James Financial Inc. bought a new position in Frontdoor in the fourth quarter worth approximately $17,465,000. Proficio Capital Partners LLC purchased a new stake in Frontdoor during the fourth quarter worth $2,224,000. Atria Investments Inc boosted its position in Frontdoor by 4.9% during the 4th quarter. Atria Investments Inc now owns 6,894 shares of the company’s stock valued at $377,000 after acquiring an additional 325 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Frontdoor by 360.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,484 shares of the company’s stock valued at $136,000 after acquiring an additional 1,945 shares during the period.

Frontdoor Price Performance

Shares of FTDR stock opened at $39.44 on Friday. Frontdoor, Inc. has a 1-year low of $29.41 and a 1-year high of $63.49. The stock’s 50-day moving average is $55.72 and its 200 day moving average is $53.53. The company has a market cap of $2.95 billion, a P/E ratio of 13.06 and a beta of 1.18. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.42 and a quick ratio of 1.42.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FTDR shares. The Goldman Sachs Group decreased their price objective on Frontdoor from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Monday, March 3rd. Truist Financial raised their price objective on Frontdoor from $58.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Frontdoor currently has an average rating of “Hold” and an average target price of $50.25.

Insider Activity at Frontdoor

In other Frontdoor 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 value of $1,497,019.04. Following the completion of the sale, the senior vice president now owns 9,429 shares of the company’s stock, valued at approximately $547,447.74. This trade represents a 73.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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. 0.89% of the stock is owned by corporate insiders.

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.