Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $3,943,466.92 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 144,238 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $27.34, for a total value of $3,943,466.92. Following the transaction, the president now owns 2,160,499 shares of the company’s stock, valued at $59,068,042.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The shares were sold at an average price of $28.02, for a total value of $225,757.14.
• On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The stock was sold at an average price of $27.00, for a total transaction of $21,600.00.
• 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 stock was 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 value of $97,688.40.

Toast Stock Up 0.8 %

TOST opened at $27.32 on Friday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of -54.64 and a beta of 1.75. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $28.19. The business’s 50 day moving average is $25.16 and its two-hundred day moving average is $24.67.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TOST shares. JPMorgan Chase & Co. increased their price target on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Toast in a report on Thursday, September 12th. 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. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toast presently has an average rating of “Moderate Buy” and an average price target of $28.33.

Institutional Investors Weigh In On Toast

Several hedge funds have recently made changes to their positions in TOST. West Branch Capital LLC purchased a new stake in Toast during the 2nd quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the first quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Toast during the fourth quarter worth $30,000. Cape Investment Advisory Inc. purchased a new position in Toast in the 4th quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

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.