Envestnet Asset Management Inc. Buys 1,741 Shares of Frontdoor, Inc. (NASDAQ:FTDR)

Envestnet Asset Management Inc. grew its stake in Frontdoor, Inc. (NASDAQ:FTDR) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,316 shares of the company’s stock after acquiring an additional 1,741 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Frontdoor worth $3,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in Frontdoor by 36.0% in the third quarter. Tidal Investments LLC now owns 42,918 shares of the company’s stock worth $2,060,000 after purchasing an additional 11,369 shares in the last quarter. Castellan Group bought a new position in Frontdoor in the third quarter worth approximately $5,881,000. GAMMA Investing LLC lifted its holdings in Frontdoor by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 2,100 shares of the company’s stock worth $115,000 after buying an additional 433 shares during the period. Nordea Investment Management AB boosted its position in Frontdoor by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 263,387 shares of the company’s stock valued at $14,544,000 after acquiring an additional 11,671 shares in the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Frontdoor by 11.1% in the 4th quarter. Diversified Trust Co now owns 13,475 shares of the company’s stock valued at $737,000 after acquiring an additional 1,345 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. 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 boosted their price objective on shares of Frontdoor from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. downgraded shares of Frontdoor from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $58.00 to $40.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.50.

Frontdoor Price Performance

Shares of FTDR stock opened at $40.48 on Friday. The stock’s 50-day simple moving average is $41.92 and its 200-day simple moving average is $51.17. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 13.40 and a beta of 1.19. 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 fifty-two week low of $30.31 and a fifty-two week high of $63.49.

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.