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

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

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

• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The shares were sold at an average price of $27.34, for a total transaction 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 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 value 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 stock was 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 shares were sold at an average price of $25.64, for a total transaction of $97,688.40.

Toast Stock Up 0.8 %

Shares of NYSE:TOST opened at $27.32 on Friday. The business’s 50 day moving average is $25.16 and its 200 day moving average is $24.67. The stock has a market cap of $12.59 billion, a P/E ratio of -54.64 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $28.19.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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 company earned ($0.19) EPS. On average, sell-side analysts anticipate that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of a number of recent research reports. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $29.00 target price on shares of Toast in a report on Thursday, September 12th. Bank of America increased their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given 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 presently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC bought a new position in shares of Toast during the first quarter valued at approximately $179,111,000. Norges Bank purchased a new stake in Toast during the fourth quarter worth $76,699,000. Meritage Group LP bought a new stake in Toast during the 4th quarter valued at $70,270,000. Capital International Investors increased its holdings 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 valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Finally, Price T Rowe Associates Inc. MD raised 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 acquiring an additional 3,445,788 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.