Stephen Fredette Sells 70,340 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total value of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, February 4th, Stephen Fredette sold 1,068 shares of Toast stock. The shares were sold at an average price of $39.63, for a total value of $42,324.84.

Toast Price Performance

NYSE TOST opened at $33.45 on Wednesday. The business has a 50 day moving average price of $38.29 and a 200 day moving average price of $34.51. The company has a market capitalization of $16.52 billion, a P/E ratio of -3,341.46, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. On average, research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. BMO Capital Markets upped their target price on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price objective on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company increased their price objective on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.48.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the period. Piscataqua Savings Bank purchased a new stake in shares of Toast in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Toast in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the fourth quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast in the fourth quarter valued at $40,000. 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.