Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $4,989,439.02 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 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.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40.

Toast Trading Up 0.4 %

Shares of TOST stock opened at $26.19 on Friday. The business’s 50 day moving average is $24.87 and its two-hundred day moving average is $24.45. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business 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%. The business’s revenue was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. On average, equities analysts predict that Toast, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Toast

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in Toast by 1,542.9% in 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 increased its holdings in shares of Toast by 8.0% in the 4th quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock valued at $205,000 after acquiring an additional 829 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Toast by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock worth $42,184,000 after buying an additional 150,425 shares during the last quarter. Principal Securities Inc. acquired a new position in Toast during the fourth quarter worth approximately $30,000. Finally, QRG Capital Management Inc. boosted its stake in shares of Toast by 117.9% during the fourth quarter. QRG Capital Management Inc. now owns 63,768 shares of the company’s stock worth $1,164,000 after buying an additional 34,504 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TOST shares. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research report on Tuesday, May 21st. Bank of America decreased their price target on Toast from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 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 upped their price target for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Morgan Stanley lifted their price objective on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.22.

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.