Stephen Fredette Sells 8,057 Shares of Toast, Inc. (NYSE:TOST) Stock

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

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

• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The shares were 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 shares were 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 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 stock was 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 transaction of $97,688.40.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.10 on Thursday. The company has a market capitalization of $12.49 billion, a PE ratio of -54.20 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $28.19. The company has a fifty day moving average of $25.14 and a 200-day moving average of $24.65.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.19) EPS. On average, equities analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TOST. Bank of America upped their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price target on shares of Toast in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Toast has an average rating of “Moderate Buy” and an average price target of $28.33.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. West Branch Capital LLC acquired a new position in shares of Toast in the 2nd quarter valued at about $26,000. LRI Investments LLC bought a new stake in Toast during the first quarter worth $27,000. Principal Securities Inc. purchased a new position in Toast in the fourth quarter valued at about $30,000. Cape Investment Advisory Inc. bought a new position in Toast during the fourth quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Toast in the 2nd quarter worth about $33,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.