Insider Selling: Toast (NYSE:TOST) President Sells 9,368 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 9,368 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $274,950.80. Following the sale, the president directly owned 941,692 shares in the company, valued at approximately $27,638,660.20. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Price Performance

NYSE:TOST traded up $0.29 during trading hours on Monday, reaching $30.08. The company had a trading volume of 12,414,094 shares, compared to its average volume of 11,170,402. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $39.72. The firm has a market cap of $15.46 billion, a PE ratio of 38.56 and a beta of 1.74. The business’s 50 day moving average price is $33.06 and its 200-day moving average price is $28.96.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.Toast’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. On average, analysts expect that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TOST has been the topic of several analyst reports. BTIG Research restated a “neutral” rating on shares of Toast in a research report on Thursday, August 27th. Citigroup increased their target price on shares of Toast from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research report on Monday, August 17th. UBS Group lifted their price target on Toast from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Oppenheimer upped their price target on Toast from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.12.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bayban acquired a new stake in Toast in the 4th quarter worth about $25,000. SHP Wealth Management acquired a new position in shares of Toast during the fourth quarter valued at approximately $29,000. Ancora Advisors LLC acquired a new position in shares of Toast during the second quarter valued at approximately $31,000. Montag A & Associates Inc. lifted its position in shares of Toast by 172.0% in the first quarter. Montag A & Associates Inc. now owns 1,455 shares of the company’s stock valued at $39,000 after acquiring an additional 920 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in shares of Toast by 213.6% in the second quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock valued at $44,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.