Toast, Inc. (NYSE:TOST) President Sells $1,648,967.19 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 47,073 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $35.03, for a total value of $1,648,967.19. Following the transaction, the president now directly owns 1,491,773 shares in the company, valued at $52,256,808.19. This represents a 3.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, March 12th, Stephen Fredette sold 300 shares of Toast stock. The shares were 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 value 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 value of $42,324.84.

Toast Price Performance

Shares of NYSE:TOST traded up $1.30 during midday trading on Wednesday, reaching $35.09. 5,944,330 shares of the company’s stock were exchanged, compared to its average volume of 6,501,173. The firm’s 50 day simple moving average is $37.90 and its two-hundred day simple moving average is $34.91. The stock has a market cap of $17.33 billion, a price-to-earnings ratio of -3,505.39, a P/E/G ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12.

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 the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Toast by 2.9% in the 4th quarter. California State Teachers Retirement System now owns 593,953 shares of the company’s stock valued at $21,650,000 after buying an additional 16,684 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock valued at $829,000 after purchasing an additional 3,713 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Toast during the 4th quarter worth about $2,296,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Toast during the fourth quarter worth $280,000. Finally, Garde Capital Inc. acquired a new stake in shares of Toast in the fourth quarter worth approximately $123,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Toast in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 price target on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. UBS Group increased their target price on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Oppenheimer started coverage on Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.48.

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.