Toast, Inc. (NYSE:TOST) President Sells $21,600.00 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.00, for a total transaction of $21,600.00. Following the completion of the sale, the president now directly owns 2,344,885 shares of the company’s stock, valued at $63,311,895. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $2,613,499.02.
• 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 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 Stock Performance

Shares of NYSE TOST traded up $0.77 during mid-day trading on Friday, reaching $27.73. The company had a trading volume of 6,081,784 shares, compared to its average volume of 7,417,509. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of -53.86 and a beta of 1.75. The stock has a fifty day moving average of $25.03 and a two-hundred day moving average of $24.56. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’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) EPS. Sell-side analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TOST shares. The Goldman Sachs Group reissued a “buy” rating and issued a $29.00 price target on shares of Toast in a report on Thursday, September 12th. Wedbush raised shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 price target on shares of Toast in a research report on Wednesday, May 29th. JPMorgan Chase & Co. upped 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. Finally, Stephens reissued an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently modified their holdings of TOST. West Branch Capital LLC acquired a new position in Toast in the 2nd quarter worth about $26,000. LRI Investments LLC acquired a new position in Toast in the first quarter worth approximately $27,000. Principal Securities Inc. bought a new position in Toast during the fourth quarter valued at approximately $30,000. Cape Investment Advisory Inc. bought a new position in Toast during the fourth quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Toast in the second quarter valued at approximately $33,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

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.