Toast, Inc. (NYSE:TOST) President Sells $4,989,439.02 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 stock was sold at an average price of $25.64, for a total value of $97,688.40.

Toast Stock Up 4.4 %

Shares of TOST traded up $1.09 during mid-day trading on Thursday, hitting $26.09. The company had a trading volume of 6,073,335 shares, compared to its average volume of 7,494,542. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.90. The business’s 50-day simple moving average is $24.85 and its 200-day simple moving average is $24.41. The stock has a market cap of $11.82 billion, a PE ratio of -51.00 and a beta of 1.75.

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 the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.19) EPS. On average, sell-side analysts expect that Toast, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of Toast in the 1st quarter valued at about $27,000. West Branch Capital LLC acquired a new stake in shares of Toast in the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast during the second quarter valued at approximately $33,000. 1620 Investment Advisors Inc. bought a new stake in Toast during the 2nd quarter valued at $34,000. Finally, Harbor Investment Advisory LLC bought a new stake in Toast during the 1st quarter valued at $37,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TOST. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Tuesday, May 21st. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $29.00 price objective on shares of Toast in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Toast Company Profile

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.