Toast, Inc. (NYSE:TOST) President Sells $3,943,466.92 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 144,238 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the completion of the transaction, the president now directly owns 2,160,499 shares of the company’s stock, valued at $59,068,042.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The stock was sold at an average price of $28.02, for a total value of $225,757.14.
• On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The stock was sold at an average price of $27.00, for a total value of $21,600.00.
• On Thursday, September 12th, Stephen Fredette sold 101,574 shares of Toast stock. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02.
• 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 shares were sold at an average price of $24.00, for a total transaction of $27,048.00.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The shares were sold at an average price of $25.64, for a total transaction of $97,688.40.

Toast Stock Performance

Shares of NYSE:TOST traded up $0.35 during midday trading on Tuesday, hitting $28.00. 3,648,575 shares of the stock were exchanged, compared to its average volume of 7,387,759. The business’s 50-day moving average price is $25.12 and its 200 day moving average price is $24.60. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $28.19. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -55.70 and a beta of 1.75.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. West Branch Capital LLC bought a new stake in shares of Toast in the 2nd quarter valued at $26,000. LRI Investments LLC bought a new position in shares of Toast in the 1st quarter worth about $27,000. Principal Securities Inc. bought a new position in shares of Toast in the 4th quarter worth about $30,000. Cape Investment Advisory Inc. acquired a new position in shares of Toast in the 4th quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast during the 2nd quarter valued at about $33,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on TOST. The Goldman Sachs Group reiterated a “buy” rating and issued a $29.00 price target on shares of Toast in a research report on Thursday, September 12th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Toast in a research report on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price on shares of Toast in a report on Wednesday, May 29th. Finally, Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.33.

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.