Toast, Inc. (NYSE:TOST) President Sells $2,613,499.02 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the transaction, the president now directly owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $97,688.40.

Toast Trading Up 0.4 %

TOST opened at $26.19 on Friday. The company’s 50 day moving average is $24.87 and its 200 day moving average is $24.45. The company has a market cap of $12.07 billion, a price-to-earnings ratio of -52.38 and a beta of 1.75. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’s revenue was up 27.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. As a group, analysts predict that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America cut their price objective on shares of Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of Toast in a report on Thursday, May 30th. Morgan Stanley boosted 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 reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Finally, Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.22.

Institutional Trading of Toast

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of Toast by 1,542.9% during the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after buying an additional 53,846 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Toast by 8.0% in the fourth quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock worth $205,000 after acquiring an additional 829 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Toast by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock valued at $42,184,000 after buying an additional 150,425 shares in the last quarter. Principal Securities Inc. purchased a new position in Toast during the fourth quarter valued at $30,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Toast by 117.9% in the fourth quarter. QRG Capital Management Inc. now owns 63,768 shares of the company’s stock worth $1,164,000 after purchasing an additional 34,504 shares during 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.