Bridgewater Associates LP Decreases Stock Holdings in Frontdoor, Inc. (NASDAQ:FTDR)

Bridgewater Associates LP reduced its stake in shares of Frontdoor, Inc. (NASDAQ:FTDR) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,542 shares of the company’s stock after selling 2,179 shares during the period. Bridgewater Associates LP owned 0.08% of Frontdoor worth $3,365,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FTDR. Raymond James Financial Inc. acquired a new position in Frontdoor during the fourth quarter worth $17,465,000. Norges Bank acquired a new position in shares of Frontdoor during the 4th quarter valued at about $14,358,000. FIL Ltd grew its holdings in shares of Frontdoor by 8.3% in the fourth quarter. FIL Ltd now owns 2,410,561 shares of the company’s stock valued at $131,785,000 after purchasing an additional 184,051 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Frontdoor during the fourth quarter worth about $8,144,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Frontdoor by 99.9% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 274,800 shares of the company’s stock worth $15,045,000 after purchasing an additional 137,300 shares during the period.

Frontdoor Price Performance

Frontdoor stock opened at $39.65 on Friday. The company’s 50 day simple moving average is $43.79 and its 200-day simple moving average is $51.42. 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 1 year low of $29.65 and a 1 year high of $63.49. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 13.13 and a beta of 1.19.

Analyst Upgrades and Downgrades

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

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.