Stephen Fredette Sells 3,810 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 3,810 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total value of $97,688.40. Following the transaction, the president now directly owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Toast Stock Performance

TOST opened at $25.31 on Friday. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90. The business has a 50 day moving average price of $24.72 and a two-hundred day moving average price of $22.25.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share. Sell-side analysts anticipate that Toast, Inc. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TOST. Envestnet Asset Management Inc. increased its holdings in shares of Toast by 306.0% in the third quarter. Envestnet Asset Management Inc. now owns 262,968 shares of the company’s stock valued at $4,925,000 after buying an additional 198,192 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Toast by 129.4% in the third quarter. Invesco Ltd. now owns 704,621 shares of the company’s stock valued at $13,198,000 after buying an additional 397,490 shares in the last quarter. Mariner LLC increased its holdings in shares of Toast by 19.9% in the third quarter. Mariner LLC now owns 42,259 shares of the company’s stock valued at $792,000 after buying an additional 7,022 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Toast by 12.9% in the third quarter. Northern Trust Corp now owns 2,160,008 shares of the company’s stock valued at $40,457,000 after buying an additional 247,484 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Toast by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock valued at $2,914,000 after buying an additional 790 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 target price on shares of Toast in a report on Wednesday, May 29th. Mizuho boosted their price objective on Toast from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Royal Bank of Canada boosted their price objective on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research report on Thursday, May 30th. Finally, Baird R W downgraded Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $26.14.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.