Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 181,304 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 181,304 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $28.56, for a total value of $5,178,042.24. Following the sale, the president now owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. The sale was disclosed in a legal filing 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 30th, Stephen Fredette sold 812 shares of Toast stock. The stock was sold at an average price of $28.28, for a total value of $22,963.36.
• On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The stock was sold at an average price of $28.02, for a total value of $225,757.14.
• On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The stock was sold at an average price of $27.34, for a total value of $3,943,466.92.
• 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 value of $21,600.00.
• On Thursday, September 12th, Stephen Fredette sold 101,574 shares of Toast stock. The stock was sold at an average price of $25.73, for a total value 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 value 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.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.43 on Thursday. The company has a fifty day moving average of $25.22 and a 200-day moving average of $24.75. The company has a market capitalization of $12.65 billion, a PE ratio of -54.86 and a beta of 1.75. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company’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) earnings per share. On average, equities analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $21.00 to $33.00 in a research report on Thursday, July 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. Finally, Morgan Stanley lifted their price target on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Trading of Toast

Several institutional investors have recently modified their holdings of TOST. Whale Rock Capital Management LLC bought a new stake in shares of Toast in the first quarter worth $179,111,000. Capital International Investors grew its stake in shares of Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after purchasing an additional 1,604,716 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock worth $669,729,000 after purchasing an additional 1,598,248 shares during the last quarter. Institutional investors 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.