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 business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the transaction, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 transaction of $42,324.84.

Toast Stock Performance

Shares of Toast stock opened at $34.67 on Thursday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of -3,463.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The company has a fifty day moving average of $38.23 and a 200-day moving average of $34.57.

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

Institutional Investors Weigh In On Toast

Several institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Toast during the 4th quarter valued at $2,296,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Toast in the 4th quarter worth about $280,000. Garde Capital Inc. purchased a new stake in shares of Toast in the 4th quarter worth about $123,000. Ascent Group LLC lifted its position in shares of Toast by 10.4% in the 4th quarter. Ascent Group LLC now owns 19,380 shares of the company’s stock worth $706,000 after purchasing an additional 1,830 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Toast by 0.6% in the 4th quarter. Mackenzie Financial Corp now owns 147,553 shares of the company’s stock worth $5,378,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TOST. DA Davidson reiterated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. UBS Group boosted their target price on shares of Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Royal Bank of Canada boosted their target price on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley boosted their target price on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.48.

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.