Toast (NYSE:TOST) President Stephen Fredette Sells 9,146 Shares

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 9,146 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the completion of the transaction, the president owned 931,449 shares in the company, valued at approximately $26,872,303.65. This represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 2.5%

Shares of TOST traded up $0.72 on Monday, reaching $29.54. 9,912,000 shares of the company’s stock were exchanged, compared to its average volume of 12,091,836. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The stock has a market capitalization of $15.24 billion, a P/E ratio of 45.45 and a beta of 1.74. The business has a 50 day moving average price of $25.64 and a two-hundred day moving average price of $28.66.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research analyst reports. UBS Group decreased their target price on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Rothschild & Co Redburn restated a “neutral” rating and set a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in shares of Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after buying an additional 7,891,383 shares during the period. Norges Bank acquired a new position in shares of Toast in the 4th quarter valued at approximately $202,808,000. ValueAct Holdings L.P. boosted its position in shares of Toast by 135.9% during the 4th quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock worth $284,622,000 after acquiring an additional 4,618,077 shares in the last quarter. Capital International Investors raised its position in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Finally, XN LP boosted its holdings in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.