Stephen Fredette Sells 800 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.00, for a total value of $21,600.00. Following the sale, the president now owns 2,344,885 shares of the company’s stock, valued at approximately $63,311,895. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $4,989,439.02.
• On Friday, August 2nd, Stephen Fredette sold 1,127 shares of Toast stock. The shares were sold at an average price of $24.00, for a total transaction 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 Price Performance

Shares of TOST opened at $27.71 on Friday. The firm has a market cap of $12.55 billion, a PE ratio of -55.42 and a beta of 1.75. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90. The stock’s fifty day moving average price is $25.08 and its two-hundred day moving average price is $24.59.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $1.24 billion for 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 firm’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. Sell-side analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. purchased a new stake in Toast during the 4th quarter worth about $30,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of Toast by 5.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Toast by 8,092.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock valued at $1,267,000 after acquiring an additional 68,539 shares during the period. Norges Bank purchased a new position in Toast during the fourth quarter valued at approximately $76,699,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Toast by 359.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,903 shares of the company’s stock worth $108,000 after purchasing an additional 4,617 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America increased their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Stephens reissued an “equal weight” rating and issued a $28.00 price target on shares of Toast in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and increased their target price for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $28.33.

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.