Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 5,511 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 5,511 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $153,040.47. Following the sale, the president now owns 1,841,468 shares of the company’s stock, valued at $51,137,566.36. The transaction 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 Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The shares were sold at an average price of $28.28, for a total transaction of $22,963.36.
• On Friday, September 27th, Stephen Fredette sold 181,304 shares of Toast stock. The shares were sold at an average price of $28.56, for a total value 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 value of $225,757.14.
• 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 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 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 shares were sold at an average price of $24.00, for a total transaction of $27,048.00.

Toast Stock Performance

Shares of Toast stock traded up $0.45 during trading on Thursday, hitting $27.88. 4,139,426 shares of the stock were exchanged, compared to its average volume of 7,319,380. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $29.92. The stock’s fifty day moving average is $25.27 and its 200 day moving average is $24.77. The stock has a market cap of $12.85 billion, a PE ratio of -55.38 and a beta of 1.75.

Toast (NYSE:TOST) last posted 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. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) EPS. Sell-side analysts anticipate that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. The Goldman Sachs Group reiterated a “buy” rating and set a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. Finally, Bank of America lifted their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of “Moderate Buy” and an average price target of $28.33.

Institutional Trading of Toast

Several large investors have recently added to or reduced their stakes in TOST. Northwestern Mutual Wealth Management Co. boosted its position in Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares during the period. Park Avenue Securities LLC raised its stake in shares of Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after purchasing an additional 436 shares in the last quarter. Wellington Shields & Co. LLC raised its stake in shares of Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Toast by 8.4% in the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after purchasing an additional 520 shares during the period. Finally, Comerica Bank grew its position in Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after buying an additional 607 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.