Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 1,068 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Toast Trading Down 1.8 %

NYSE:TOST opened at $41.21 on Friday. Toast, Inc. has a 1-year low of $18.47 and a 1-year high of $44.12. The firm’s fifty day moving average price is $38.43 and its 200 day moving average price is $32.31.

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

Analysts Set New Price Targets

Several equities analysts recently commented on TOST shares. DA Davidson reissued a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. Wells Fargo & Company raised their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lowered their price target on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Oppenheimer assumed coverage on shares of Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, BNP Paribas cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.09.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in TOST. FMR LLC lifted its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares during the period. ValueAct Holdings L.P. purchased a new position in Toast in the third quarter worth $438,301,000. State Street Corp lifted its holdings in Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after acquiring an additional 206,789 shares during the period. Geode Capital Management LLC boosted its position in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the period. Hedge funds and other 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.