Toast, Inc. (NYSE:TOST) President Sells $3,943,466.92 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 144,238 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the transaction, the president now directly owns 2,160,499 shares in the company, valued at $59,068,042.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $225,757.14.
• 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 transaction 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 transaction 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 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 stock was sold at an average price of $25.64, for a total value of $97,688.40.

Toast Stock Performance

NYSE TOST traded up $0.35 on Tuesday, hitting $28.00. The stock had a trading volume of 3,648,575 shares, compared to its average volume of 7,387,759. The firm has a 50-day moving average of $25.12 and a 200-day moving average of $24.60. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $28.19. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -55.70 and a beta of 1.75.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company 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 firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, research analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Truist Financial Corp purchased a new stake in shares of Toast during the 2nd quarter valued at $618,000. Kampmann Melissa S. bought a new position in Toast in the second quarter valued at $1,122,000. Northwestern Mutual Wealth Management Co. raised its position in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares in the last quarter. Ascent Group LLC purchased a new stake in Toast during the second quarter valued at about $333,000. Finally, Scientech Research LLC bought a new stake in Toast during the second quarter worth about $236,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TOST shares. Morgan Stanley raised their price objective on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 price objective on shares of Toast in a report on Wednesday, May 29th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toast presently has an average rating of “Moderate Buy” and an average price target of $28.33.

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.