Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 5,511 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 5,511 shares of Toast stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $153,040.47. Following the completion of the sale, the president now directly owns 1,841,468 shares in the company, valued at approximately $51,137,566.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The shares were sold at an average price of $28.28, for a total transaction of $22,963.36.
• On Friday, September 27th, Stephen Fredette sold 181,304 shares of Toast stock. The stock was sold at an average price of $28.56, for a total transaction of $5,178,042.24.
• On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The stock was sold at an average price of $28.02, for a total transaction of $225,757.14.
• 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 transaction of $3,943,466.92.
• On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The stock was 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 transaction of $2,613,499.02.
• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The stock was 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 shares were sold at an average price of $24.00, for a total transaction of $27,048.00.

Toast Stock Up 1.6 %

Toast stock opened at $27.88 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92. The firm has a fifty day moving average of $25.33 and a 200-day moving average of $24.79. The firm has a market capitalization of $12.63 billion, a P/E ratio of -55.76 and a beta of 1.76.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, research analysts expect that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TOST shares. JPMorgan Chase & Co. upped their price target on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TOST. Whale Rock Capital Management LLC purchased a new position in shares of Toast in the first quarter valued at $179,111,000. Capital International Investors boosted its stake in shares of Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares during the period. Marshall Wace LLP boosted its stake in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after purchasing an additional 1,604,716 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after purchasing an additional 1,598,248 shares during the period. 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.