Assenagon Asset Management S.A. Sells 55,807 Shares of Frontdoor Inc. $FTDR

Key Points

• Assenagon Asset Management S.A. reduced its stake in Frontdoor Inc. by 41.2%, selling 55,807 shares and leaving it with 79,676 shares valued at approximately $4.7 million.
• An analyst upgrade from Zacks Research changed Frontdoor's rating from "hold" to "strong-buy," while price targets from other firms vary, with JPMorgan's at $55 and Oppenheimer's at $63.
• Recently, SVP Jeffrey Fiarman sold 129,673 shares of Frontdoor, representing a 78.92% decrease in his ownership, totaling over $7.2 million in sales.

Assenagon Asset Management S.A. cut its holdings in shares of Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 41.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,676 shares of the company's stock after selling 55,807 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Frontdoor worth $4,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in Frontdoor during the first quarter worth $42,000. IFP Advisors Inc lifted its stake in Frontdoor by 80,766.7% during the first quarter. IFP Advisors Inc now owns 2,426 shares of the company's stock worth $93,000 after purchasing an additional 2,423 shares during the last quarter. GAMMA Investing LLC lifted its stake in Frontdoor by 16.5% during the first quarter. GAMMA Investing LLC now owns 2,447 shares of the company's stock worth $94,000 after purchasing an additional 347 shares during the last quarter. CWM LLC lifted its stake in Frontdoor by 91.2% during the first quarter. CWM LLC now owns 2,574 shares of the company's stock worth $99,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Frontdoor by 70.3% during the first quarter. Blue Trust Inc. now owns 2,780 shares of the company's stock worth $107,000 after purchasing an additional 1,148 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FTDR. Zacks Research upgraded Frontdoor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 27th. JPMorgan Chase & Co. increased their price target on Frontdoor from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. The Goldman Sachs Group increased their price target on Frontdoor from $44.00 to $50.00 and gave the company a "sell" rating in a research note on Wednesday, August 6th. Oppenheimer increased their price target on Frontdoor from $56.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Finally, Truist Financial increased their price target on Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.75.

Insiders Place Their Bets

In related news, SVP Jeffrey Fiarman sold 129,673 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $56.15, for a total value of $7,281,138.95. Following the completion of the sale, the senior vice president directly owned 34,646 shares in the company, valued at $1,945,372.90. This represents a 78.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.48% of the stock is owned by insiders.

Frontdoor Stock Performance

NASDAQ FTDR opened at $66.50 on Thursday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 19.62 and a beta of 1.34. Frontdoor Inc. has a twelve month low of $35.61 and a twelve month high of $68.86. The stock has a fifty day simple moving average of $60.95 and a 200 day simple moving average of $53.08. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 4.56.

Frontdoor (NASDAQ:FTDR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.19. The business had revenue of $617.00 million during the quarter, compared to the consensus estimate of $602.62 million. Frontdoor had a return on equity of 125.21% and a net margin of 13.07%.Frontdoor's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. Frontdoor has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts expect that Frontdoor Inc. will post 3.07 EPS for the current year.

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.

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