Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 181,304 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 181,304 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $28.56, for a total transaction of $5,178,042.24. Following the transaction, the president now directly owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The stock was sold at an average price of $28.28, for a total transaction of $22,963.36.
• 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 transaction of $225,757.14.
• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The stock was 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 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 value of $27,048.00.

Toast Stock Up 0.9 %

Shares of TOST traded up $0.26 during mid-day trading on Tuesday, hitting $28.57. The stock had a trading volume of 6,148,926 shares, compared to its average volume of 7,336,130. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $29.92. The company’s fifty day simple moving average is $25.19 and its two-hundred day simple moving average is $24.71. The company has a market cap of $13.17 billion, a PE ratio of -57.60 and a beta of 1.75.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after acquiring an additional 1,598,248 shares during the last quarter. Capital International Investors boosted its stake in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 last quarter. Abdiel Capital Advisors LP increased its stake in shares of Toast by 0.3% in the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after buying an additional 37,091 shares during the period. Finally, Champlain Investment Partners LLC raised its holdings in Toast by 9.1% during the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several research analyst reports. Wedbush raised shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. One equities research 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 stock. According to data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price 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.