Frontdoor (NASDAQ:FTDR) Sees Strong Trading Volume – Here’s What Happened

Frontdoor, Inc. (NASDAQ:FTDR) shares saw unusually-high trading volume on Friday . Approximately 1,299,807 shares traded hands during trading, an increase of 88% from the previous session’s volume of 691,307 shares.The stock last traded at $44.77 and had previously closed at $46.21.

Wall Street Analysts Forecast Growth

FTDR has been the topic of a number of research analyst reports. 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. The Goldman Sachs Group raised their target price on shares of Frontdoor from $41.00 to $46.00 and gave the company a “sell” rating in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Frontdoor currently has an average rating of “Hold” and an average target price of $51.75.

Frontdoor Trading Down 1.6 %

The firm has a 50-day moving average price of $57.24 and a 200-day moving average price of $53.73. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 15.06 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.16.

Insider Buying and Selling

In related news, SVP Kathryn M. Collins sold 25,784 shares of Frontdoor stock in a transaction on 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 transaction, the senior vice president now directly owns 9,429 shares in the company, valued at $547,447.74. The trade was a 73.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Evan Iverson sold 16,000 shares of Frontdoor stock in a transaction 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 in the company, valued at $291,552.20. The trade was a 76.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Frontdoor

A number of institutional investors have recently bought and sold shares of FTDR. Creative Planning increased its stake in Frontdoor by 21.5% in the 3rd quarter. Creative Planning now owns 19,061 shares of the company’s stock worth $915,000 after purchasing an additional 3,370 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Frontdoor by 11.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,804 shares of the company’s stock worth $617,000 after acquiring an additional 1,300 shares in the last quarter. New York State Teachers Retirement System raised its stake in Frontdoor by 16.8% during the 3rd quarter. New York State Teachers Retirement System now owns 41,084 shares of the company’s stock valued at $1,972,000 after purchasing an additional 5,895 shares during the period. US Bancorp DE raised its stake in Frontdoor by 1,751.2% during the 3rd quarter. US Bancorp DE now owns 6,831 shares of the company’s stock valued at $328,000 after purchasing an additional 6,462 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Frontdoor by 5,840.8% in the third quarter. Farther Finance Advisors LLC now owns 10,634 shares of the company’s stock valued at $510,000 after purchasing an additional 10,455 shares in the last quarter.

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.