Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 8,057 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 8,057 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total value of $225,757.14. Following the sale, the president now directly owns 2,152,442 shares in the company, valued at approximately $60,311,424.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The shares were sold at an average price of $27.34, for a total value of $3,943,466.92.
• On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The shares were 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 transaction of $2,613,499.02.
• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The stock was sold at an average price of $23.57, for a total transaction 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 shares were sold at an average price of $25.64, for a total value of $97,688.40.

Toast Trading Up 1.3 %

Toast stock traded up $0.35 during trading on Tuesday, hitting $28.00. 3,648,575 shares of the company were exchanged, compared to its average volume of 7,387,759. The company has a market capitalization of $12.68 billion, a P/E ratio of -55.70 and a beta of 1.75. The business’s 50 day moving average is $25.12 and its 200 day moving average is $24.60. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $28.19.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. Equities analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

TOST has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 price target on shares of Toast in a research report on Wednesday, May 29th. Wedbush raised Toast to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Hedge Funds Weigh In On Toast

Institutional investors have recently modified their holdings of the business. Whale Rock Capital Management LLC bought a new stake in Toast during the first quarter worth $179,111,000. Norges Bank purchased a new position in shares of Toast in the 4th quarter worth about $76,699,000. Meritage Group LP bought a new position in Toast during the fourth quarter valued at about $70,270,000. Capital International Investors increased its holdings in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after acquiring an additional 3,445,788 shares during the period. 82.91% of the stock is owned by institutional investors.

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.