Frontdoor, Inc. (NASDAQ:FTDR) Stake Cut by Swiss National Bank

Swiss National Bank cut its position in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,503 shares of the company’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned 0.20% of Frontdoor worth $8,228,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its stake in Frontdoor by 255.5% in the third quarter. Verition Fund Management LLC now owns 21,757 shares of the company’s stock valued at $1,044,000 after buying an additional 15,637 shares during the last quarter. Atria Investments Inc bought a new stake in Frontdoor in the third quarter valued at $315,000. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Blue Trust Inc. lifted its stake in Frontdoor by 315.3% in the fourth quarter. Blue Trust Inc. now owns 1,632 shares of the company’s stock valued at $89,000 after buying an additional 1,239 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Frontdoor in the fourth quarter valued at $467,000.

Analysts Set New Price Targets

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

Frontdoor Price Performance

Shares of FTDR opened at $38.09 on Friday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 12.61 and a beta of 1.18. 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, Inc. has a one year low of $29.41 and a one year high of $63.49. The stock’s fifty day moving average is $52.25 and its 200-day moving average is $52.79.

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.