Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 1,127 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,127 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00. Following the sale, the president now directly owns 2,849,709 shares in the company, valued at approximately $68,393,016. The transaction 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 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 Price Performance

NYSE TOST traded down $0.54 on Monday, reaching $23.91. The stock had a trading volume of 9,581,568 shares, compared to its average volume of 7,834,295. The firm has a fifty day moving average of $24.82 and a two-hundred day moving average of $23.43. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90. The company has a market cap of $10.83 billion, a P/E ratio of -47.84 and a beta of 1.76.

Toast (NYSE:TOST) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. Toast’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. Research analysts predict that Toast, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of Toast

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

Analyst Ratings Changes

TOST has been the topic of several recent research reports. Wedbush restated an “outperform” rating and set a $30.00 target price on shares of Toast in a report on Thursday, May 30th. Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Toast in a report on Thursday, May 30th. Baird R W cut shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Finally, Canaccord Genuity Group increased their price objective on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.65.

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.