Frontdoor Inc. (NASDAQ:FTDR) Shares Purchased by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC significantly increased its stake in Frontdoor Inc. by 111.9% during the first quarter, owning over 52,000 shares valued at approximately $2 million.
• Analysts have raised their price targets for Frontdoor, with Truist Financial setting a new target at $71.00, while Goldman Sachs has a target of $50.00 with a "sell" rating.
• Frontdoor reported a quarterly earnings per share of $1.63, exceeding estimates, alongside a 13.8% year-over-year revenue growth, totaling $617 million.

Motley Fool Asset Management LLC increased its position in Frontdoor Inc. (NASDAQ:FTDR - Free Report) by 111.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,077 shares of the company's stock after buying an additional 27,497 shares during the quarter. Motley Fool Asset Management LLC owned about 0.07% of Frontdoor worth $2,001,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Frontdoor during the first quarter valued at $32,213,000. Invesco Ltd. boosted its stake in Frontdoor by 46.9% during the 1st quarter. Invesco Ltd. now owns 1,223,776 shares of the company's stock valued at $47,017,000 after purchasing an additional 390,434 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Frontdoor by 13.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 150,466 shares of the company's stock valued at $5,781,000 after purchasing an additional 18,362 shares during the period. Headlands Technologies LLC lifted its position in shares of Frontdoor by 387.2% in the 1st quarter. Headlands Technologies LLC now owns 12,103 shares of the company's stock worth $465,000 after acquiring an additional 9,619 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Frontdoor by 7.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,732 shares of the company's stock worth $374,000 after acquiring an additional 643 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FTDR. JPMorgan Chase & Co. raised their price target on Frontdoor from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Truist Financial lifted their target price on Frontdoor from $67.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Oppenheimer boosted their price objective on Frontdoor from $56.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group upped their target price on Frontdoor from $44.00 to $50.00 and gave the stock a "sell" rating in a research note on Wednesday, August 6th.

Insider Activity at Frontdoor

In other news, SVP Jeffrey Fiarman sold 129,673 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were 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 owned 34,646 shares in the company, valued at approximately $1,945,372.90. This trade represents a 78.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.48% of the stock is owned by insiders.

Frontdoor Stock Down 0.3%

NASDAQ:FTDR traded down $0.18 on Friday, hitting $58.89. The stock had a trading volume of 656,946 shares, compared to its average volume of 749,321. The firm's fifty day simple moving average is $57.96 and its two-hundred day simple moving average is $51.45. The company has a debt-to-equity ratio of 4.56, a quick ratio of 1.49 and a current ratio of 1.49. Frontdoor Inc. has a 1 year low of $35.61 and a 1 year high of $64.91. The stock has a market cap of $4.29 billion, a P/E ratio of 17.37 and a beta of 1.32.

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

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.