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

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 5,511 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $153,040.47. Following the completion of the sale, the president now owns 1,841,468 shares in the company, valued at $51,137,566.36. 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 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 shares were 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 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 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 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 Up 1.6 %

Shares of NYSE:TOST traded up $0.45 on Thursday, reaching $27.88. The company had a trading volume of 4,139,426 shares, compared to its average volume of 7,319,380. The stock has a market capitalization of $12.85 billion, a P/E ratio of -55.38 and a beta of 1.75. The stock has a 50-day moving average price of $25.27 and a 200 day moving average price of $24.77. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $29.92.

Toast (NYSE:TOST) last posted its earnings results 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. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) EPS. On average, sell-side analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Toast

Institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC acquired a new position in Toast in the 1st quarter valued at $179,111,000. Capital International Investors boosted its holdings in Toast by 12.2% during the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD grew its position 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 valued at $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after purchasing an additional 1,604,716 shares during the period. Finally, Vanguard Group Inc. increased 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 purchasing an additional 1,598,248 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on TOST. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Finally, Bank of America boosted their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.33.

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.