Stephen Fredette Sells 1,068 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,068 shares of Toast stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Toast Trading Up 5.3 %

NYSE TOST traded up $2.07 during trading on Wednesday, hitting $41.31. 5,900,445 shares of the company traded hands, compared to its average volume of 5,030,922. Toast, Inc. has a 12 month low of $18.14 and a 12 month high of $44.12. The business has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $32.18. The company has a market capitalization of $19.46 billion, a P/E ratio of -317.75, a PEG ratio of 2.18 and a beta of 1.98.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. During the same period last year, the business earned ($0.09) EPS. Equities research analysts predict that Toast, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TOST. Morgan Stanley lifted their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Robert W. Baird increased their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their target price on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus target price of $35.74.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Toast by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,883 shares of the company’s stock worth $2,522,000 after acquiring an additional 8,186 shares during the period. Truist Financial Corp bought a new position in shares of Toast in the second quarter worth about $618,000. Atomi Financial Group Inc. acquired a new position in shares of Toast during the 3rd quarter worth about $330,000. Trevian Wealth Management LLC bought a new stake in Toast during the 3rd quarter valued at approximately $1,398,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Toast in the 3rd quarter valued at approximately $82,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.