Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 211,686 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• 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 value of $97,688.40.

Toast Trading Up 4.3 %

Shares of NYSE TOST opened at $26.08 on Friday. The stock has a 50 day moving average price of $24.85 and a 200 day moving average price of $24.41. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) EPS. Research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on TOST. Bank of America cut their target price on Toast from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 price objective on shares of Toast in a research report on Wednesday, May 29th. Morgan Stanley increased their target price on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Toast in a research note on Thursday. Finally, Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Institutional Trading of Toast

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

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.