Toast, Inc. (NYSE:TOST) President Sells $27,048.00 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,127 shares of Toast stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $27,048.00. Following the transaction, the president now directly owns 2,849,709 shares of the company’s stock, valued at approximately $68,393,016. 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 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 Price Performance

TOST traded down $0.54 during trading hours on Monday, hitting $23.91. 9,581,568 shares of the stock were exchanged, compared to its average volume of 7,834,295. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of -47.84 and a beta of 1.76. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.90. The stock has a 50-day simple moving average of $24.82 and a 200-day simple moving average of $23.43.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period last year, the company earned ($0.16) earnings per share. Sell-side analysts expect that Toast, Inc. will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Toast by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock valued at $42,184,000 after purchasing an additional 150,425 shares during the period. Meritage Group LP acquired a new position in shares of Toast in the 4th quarter valued at $70,270,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Toast in the 1st quarter valued at $5,078,000. Syon Capital LLC acquired a new position in shares of Toast in the 4th quarter valued at $377,000. Finally, International Assets Investment Management LLC boosted its position in shares of Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after purchasing an additional 53,846 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TOST. Royal Bank of Canada lifted their price target on Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Piper Sandler lifted their price target on Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Wells Fargo & Company lifted their price target on Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, May 8th. Baird R W cut Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of Toast in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.65.

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.