Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 8,057 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 8,057 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $28.02, for a total value of $225,757.14. Following the completion of the sale, the president now directly owns 2,152,442 shares of the company’s stock, valued at $60,311,424.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 shares were 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 transaction 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 transaction 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 transaction of $97,688.40.

Toast Stock Up 1.3 %

Shares of NYSE TOST traded up $0.35 during midday trading on Tuesday, reaching $28.00. The company had a trading volume of 3,648,575 shares, compared to its average volume of 7,387,759. The stock has a market cap of $12.68 billion, a PE ratio of -55.70 and a beta of 1.75. Toast, Inc. has a one year low of $13.77 and a one year high of $28.19. The firm’s fifty day moving average price is $25.12 and its 200-day moving average price is $24.60.

Toast (NYSE:TOST) last announced 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. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The business’s revenue was up 27.0% on a year-over-year basis. As a group, equities research analysts expect that Toast, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TOST shares. Wedbush upgraded Toast to a “strong-buy” rating in a research report on Friday, September 6th. Bank of America lifted their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Toast in a report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC purchased a new position in shares of Toast during the first quarter valued at approximately $179,111,000. Norges Bank purchased a new position in Toast during the 4th quarter valued at $76,699,000. Meritage Group LP bought a new position in Toast in the 4th quarter worth $70,270,000. Capital International Investors lifted its position in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. 82.91% of the stock is currently owned by 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.