Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 812 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 812 shares of Toast stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $28.28, for a total transaction of $22,963.36. Following the completion of the sale, the president now owns 1,896,566 shares of the company’s stock, valued at $53,634,886.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, September 27th, Stephen Fredette sold 181,304 shares of Toast stock. The stock was sold at an average price of $28.56, for a total transaction of $5,178,042.24.
• 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 transaction of $3,943,466.92.
• 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 shares were 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 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 Performance

Shares of NYSE:TOST traded up $0.26 on Tuesday, reaching $28.57. The company’s stock had a trading volume of 6,148,926 shares, compared to its average volume of 7,336,130. The company has a 50-day simple moving average of $25.19 and a 200 day simple moving average of $24.71. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92. The company has a market cap of $13.17 billion, a P/E ratio of -57.60 and a beta of 1.75.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, equities research analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TOST shares. JPMorgan Chase & Co. raised their target price on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 price target on shares of Toast in a report on Thursday, September 12th. Finally, Bank of America upped their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp purchased a new position in shares of Toast during the 2nd quarter worth about $618,000. Kampmann Melissa S. bought a new position in shares of Toast during the second quarter valued at approximately $1,122,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after buying an additional 421 shares during the period. Ascent Group LLC bought a new stake in shares of Toast during the 2nd quarter worth approximately $333,000. Finally, Scientech Research LLC purchased a new position in Toast during the 2nd quarter valued at $236,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.