Toast, Inc. (NYSE:TOST) President Sells $27,048.00 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,127 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $24.00, for a total transaction of $27,048.00. Following the sale, the president now owns 2,849,709 shares of the company’s stock, valued at $68,393,016. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 Trading Down 6.1 %

Shares of NYSE:TOST opened at $22.72 on Thursday. The stock has a 50 day moving average of $24.74 and a 200 day moving average of $23.52. The company has a market cap of $10.29 billion, a PE ratio of -45.44 and a beta of 1.76. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities research analysts predict that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on TOST shares. Wells Fargo & Company raised their price objective on shares of Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, May 8th. Canaccord Genuity Group upped their target price on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research report on Wednesday. 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. Finally, Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.85.

Hedge Funds Weigh In On Toast

Several large investors have recently made changes to their positions in the business. Raymond James & Associates raised its position in shares of Toast by 16.6% during the fourth quarter. Raymond James & Associates now owns 202,006 shares of the company’s stock valued at $3,689,000 after buying an additional 28,743 shares during the last quarter. Arizona State Retirement System grew its stake in Toast by 7.1% during the fourth quarter. Arizona State Retirement System now owns 90,333 shares of the company’s stock valued at $1,649,000 after acquiring an additional 6,006 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Toast by 4.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 120,711 shares of the company’s stock valued at $2,284,000 after acquiring an additional 4,593 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after purchasing an additional 53,846 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Toast by 6.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 27,343 shares of the company’s stock valued at $510,000 after purchasing an additional 1,608 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.