Toast, Inc. (NYSE:TOST) President Sells $2,613,499.02 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 101,574 shares of Toast stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the sale, the president now owns 2,395,685 shares in the company, valued at $61,640,975.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 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 Stock Performance

Toast stock opened at $26.19 on Monday. The stock has a market cap of $11.86 billion, a PE ratio of -52.38 and a beta of 1.75. Toast, Inc. has a one year low of $13.77 and a one year high of $27.90. The stock has a fifty day moving average of $24.87 and a 200 day moving average of $24.48.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Wedbush raised Toast to a “strong-buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Finally, Stephens reissued an “equal weight” rating and issued a $28.00 target price on shares of Toast in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Institutional Trading of Toast

Several hedge funds have recently bought and sold shares of TOST. International Assets Investment Management LLC grew its holdings in Toast by 1,542.9% during the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after purchasing an additional 53,846 shares during the period. M&T Bank Corp grew its holdings in Toast by 8.0% during the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock valued at $205,000 after purchasing an additional 829 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Toast by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock worth $42,184,000 after acquiring an additional 150,425 shares during the period. Principal Securities Inc. bought a new position in shares of Toast in the fourth quarter worth about $30,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Toast by 117.9% in the fourth quarter. QRG Capital Management Inc. now owns 63,768 shares of the company’s stock worth $1,164,000 after acquiring an additional 34,504 shares during the period. 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.