Stephen Fredette Sells 7,550 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 7,550 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the sale, the president directly owned 898,475 shares of the company’s stock, valued at approximately $31,949,771. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, August 4th, Stephen Fredette sold 1,720 shares of Toast stock. The shares were sold at an average price of $48.38, for a total transaction of $83,213.60.

Toast Price Performance

Shares of TOST stock opened at $36.58 on Friday. Toast, Inc. has a 1 year low of $27.65 and a 1 year high of $49.66. The firm has a fifty day moving average price of $42.32 and a 200-day moving average price of $40.82. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The company’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Equities research analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TOST shares. Keefe, Bruyette & Woods dropped their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They issued a “buy” rating for the company. Citigroup reaffirmed a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Saturday, September 27th. Fifteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.30.

Institutional Trading of Toast

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Toast by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock worth $1,966,995,000 after purchasing an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after buying an additional 3,490,686 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Toast by 7.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after buying an additional 1,082,958 shares in the last quarter. State Street Corp raised its position in shares of Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after buying an additional 245,276 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Toast by 331.0% during the 2nd quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after buying an additional 6,606,245 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

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.