Stephen Fredette Sells 101,574 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 101,574 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the transaction, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Stephen Fredette also recently made the following trade(s):

• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02.
• On Friday, August 2nd, Stephen Fredette sold 1,127 shares of Toast stock. The stock was sold at an average price of $24.00, for a total value of $27,048.00.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The stock was sold at an average price of $25.64, for a total value of $97,688.40.

Toast Trading Up 0.4 %

NYSE TOST opened at $26.19 on Friday. The company has a market cap of $12.07 billion, a price-to-earnings ratio of -52.38 and a beta of 1.75. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90. The company has a 50 day moving average of $24.87 and a 200-day moving average of $24.45.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. On average, equities research analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Toast

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Toast during the 1st quarter worth approximately $27,000. West Branch Capital LLC bought a new stake in Toast during the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Toast in the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Toast in the 2nd quarter valued at $34,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Toast during the 1st quarter worth $37,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TOST. Morgan Stanley boosted their target price on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Stephens restated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research note on Thursday, May 30th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Bank of America dropped their price objective on Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.22.

About Toast

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.