Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 101,574 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the sale, the president now directly owns 2,395,685 shares in the company, valued at approximately $61,640,975.05. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 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.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40.

Toast Price Performance

Shares of NYSE:TOST opened at $26.19 on Friday. The stock’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 PE ratio of -52.38 and a beta of 1.75. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90.

Toast (NYSE:TOST) last posted 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 return on equity of 11.27% and a negative net margin of 3.10%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm earned ($0.19) earnings per share. The business’s revenue was up 27.0% compared to the same quarter last year. Analysts expect that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Morgan Stanley upped their target price on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Bank of America decreased their price target on shares of Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Toast by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after buying an additional 1,598,248 shares during the period. Capital International Investors raised its position in shares of Toast by 12.2% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Toast by 21.4% in 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 in the last quarter. Abdiel Capital Advisors LP lifted its stake in shares of Toast by 0.3% in the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after purchasing an additional 37,091 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in shares of Toast by 9.1% during the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after purchasing an additional 833,390 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

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.