Stephen Fredette Sells 70,340 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 70,340 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now directly owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. The trade was a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 4th, Stephen Fredette sold 1,068 shares of Toast stock. The shares were sold at an average price of $39.63, for a total value of $42,324.84.

Toast Trading Down 0.1 %

TOST traded down $0.04 during trading on Tuesday, hitting $33.45. The company’s stock had a trading volume of 7,023,299 shares, compared to its average volume of 6,687,996. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of -3,341.46, a P/E/G ratio of 2.16 and a beta of 1.99. The business’s fifty day simple moving average is $38.29 and its 200 day simple moving average is $34.51.

Toast (NYSE:TOST) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. lifted their price target on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Finally, Piper Sandler lifted their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and an average target price of $40.48.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors grew its holdings in Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC lifted its stake in shares of Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the 3rd quarter worth approximately $438,301,000. Finally, State Street Corp raised its holdings in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 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.