Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 181,304 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 181,304 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $28.56, for a total value of $5,178,042.24. Following the transaction, the president now owns 1,897,378 shares of the company’s stock, valued at $54,189,115.68. The transaction 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 Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The stock was sold at an average price of $28.28, for a total value of $22,963.36.
• 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 value 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 value 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 value 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 shares were sold at an average price of $24.00, for a total value of $27,048.00.

Toast Trading Up 0.9 %

NYSE:TOST opened at $28.57 on Wednesday. The stock has a market cap of $13.17 billion, a P/E ratio of -57.13 and a beta of 1.75. The stock has a 50 day simple moving average of $25.19 and a 200 day simple moving average of $24.71. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $29.92.

Toast (NYSE:TOST) last released 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 during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) EPS. As a group, sell-side analysts forecast that Toast, Inc. will post -0.1 EPS for the current year.

Institutional Trading of Toast

Several hedge funds have recently added to or reduced their stakes in TOST. Whale Rock Capital Management LLC bought a new position in Toast during the 1st quarter worth $179,111,000. Capital International Investors increased its stake in Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Toast by 21.4% during 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 during the period. Marshall Wace LLP increased its stake in Toast by 175.8% during the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after acquiring an additional 1,604,716 shares during the period. Finally, Vanguard Group Inc. increased its stake in Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after acquiring an additional 1,598,248 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on TOST shares. Morgan Stanley increased their price target on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 price target on shares of Toast in a research report on Thursday, September 12th. Finally, Wedbush raised Toast to a “strong-buy” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given 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.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

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.