Stephen Fredette Sells 44,056 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 44,056 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total transaction of $1,548,568.40. Following the sale, the president now owns 1,447,717 shares of the company’s stock, valued at $50,887,252.55. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, March 17th, Stephen Fredette sold 47,073 shares of Toast stock. The shares were sold at an average price of $35.03, for a total transaction of $1,648,967.19.
• On Wednesday, March 12th, Stephen Fredette sold 300 shares of Toast stock. The shares were sold at an average price of $35.00, for a total transaction 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 transaction 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 Down 1.9 %

TOST opened at $35.20 on Friday. The firm has a 50-day moving average price of $37.82 and a 200-day moving average price of $34.99. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. UBS Group lifted their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. DA Davidson restated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.48.

Hedge Funds Weigh In On Toast

Several hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after purchasing an additional 301 shares during the period. Keel Point LLC grew its holdings in Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company’s stock valued at $447,000 after buying an additional 326 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after buying an additional 358 shares in the last quarter. Mirador Capital Partners LP grew its holdings in Toast by 0.9% during the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after buying an additional 360 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.