Stephen Fredette Sells 47,073 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 47,073 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.03, for a total value of $1,648,967.19. Following the sale, the president now directly owns 1,491,773 shares in the company, valued at approximately $52,256,808.19. This represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, March 12th, Stephen Fredette sold 300 shares of Toast stock. The stock was sold at an average price of $35.00, for a total value of $10,500.00.
• On Friday, March 7th, Stephen Fredette sold 70,340 shares of Toast stock. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80.
• On Tuesday, February 4th, Stephen Fredette sold 1,068 shares of Toast stock. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84.

Toast Stock Performance

TOST opened at $35.90 on Friday. Toast, Inc. has a one year low of $21.32 and a one year high of $44.12. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of -3,586.01, a P/E/G ratio of 2.16 and a beta of 1.99. The stock’s 50 day moving average price is $37.83 and its 200-day moving average price is $34.92.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion during 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%. As a group, analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank purchased a new position in Toast during the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in Toast during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast in the 4th quarter worth $40,000. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TOST. Wells Fargo & Company lifted their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. BMO Capital Markets raised their price target on Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Oppenheimer initiated coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $40.48.

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.