Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $225,757.14 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 8,057 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total value of $225,757.14. Following the completion of the sale, the president now owns 2,152,442 shares of the company’s stock, valued at approximately $60,311,424.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 shares were 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 shares were 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 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.
• 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 Stock Performance

Shares of NYSE:TOST opened at $27.32 on Friday. The stock’s 50-day simple moving average is $25.16 and its two-hundred day simple moving average is $24.67. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of -54.64 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $28.19.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted ($0.19) earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, equities analysts forecast that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. purchased a new position in shares of Toast during the 4th quarter valued at about $30,000. Norges Bank bought a new position in shares of Toast in the fourth quarter worth approximately $76,699,000. Quest Partners LLC purchased a new stake in shares of Toast in the fourth quarter worth $194,000. US Bancorp DE increased its stake in shares of Toast by 37.5% in the fourth quarter. US Bancorp DE now owns 52,142 shares of the company’s stock worth $952,000 after purchasing an additional 14,221 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Toast during the 4th quarter valued at $31,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $29.00 price target on shares of Toast in a research note on Thursday, September 12th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Toast has an average rating of “Moderate Buy” and an average price target of $28.33.

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.