Toast, Inc. (NYSE:TOST) President Sells $1,548,568.40 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 44,056 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the completion of the sale, the president now directly owns 1,447,717 shares in the company, valued at approximately $50,887,252.55. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 17th, Stephen Fredette sold 47,073 shares of Toast stock. The shares were sold at an average price of $35.03, for a total transaction of $1,648,967.19.
• On Wednesday, March 12th, Stephen Fredette sold 300 shares of Toast stock. The stock was sold at an average price of $35.00, for a total transaction of $10,500.00.
• On Friday, March 7th, Stephen Fredette sold 70,340 shares of Toast stock. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80.
• On Tuesday, February 4th, Stephen Fredette sold 1,068 shares of Toast stock. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84.

Toast Stock Performance

Shares of NYSE TOST traded down $0.68 during midday trading on Friday, reaching $35.20. 6,987,316 shares of the stock were exchanged, compared to its average volume of 6,500,792. The company has a 50 day simple moving average of $37.82 and a 200 day simple moving average of $34.99. The stock has a market capitalization of $17.39 billion, a P/E ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12.

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

Institutional Trading of Toast

Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of Toast by 1.3% in the third quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock worth $1,406,000 after acquiring an additional 661 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Toast during the 3rd quarter worth $397,000. CIBC Asset Management Inc lifted its position in Toast by 3.7% in the third quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after acquiring an additional 448 shares during the last quarter. Natixis Advisors LLC lifted its position in Toast by 43.9% in the third quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock valued at $2,329,000 after acquiring an additional 25,113 shares during the last quarter. Finally, Swiss National Bank lifted its position in Toast by 3.9% in the third quarter. Swiss National Bank now owns 1,075,600 shares of the company’s stock valued at $30,450,000 after acquiring an additional 40,600 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TOST shares. The Goldman Sachs Group set a $40.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Royal Bank of Canada raised their price target 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. Finally, UBS Group raised their price target 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.