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

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction dated 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 owned 898,475 shares in the company, valued at $31,949,771. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Toast Price Performance

Toast 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 market capitalization of $18.66 billion, a P/E ratio of 107.60 and a beta of 1.94. The company’s 50-day moving average is $42.32 and its 200 day moving average is $40.82.

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

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Toast by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock valued at $1,966,995,000 after purchasing an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after purchasing an additional 3,490,686 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Toast by 7.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after purchasing an additional 1,082,958 shares in the last quarter. State Street Corp boosted its stake in shares of Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after purchasing an additional 245,276 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after purchasing an additional 6,606,245 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a research report on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research report on Wednesday. Truist Financial upped their target price on shares of Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Finally, Barclays restated an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Toast has an average rating of “Moderate Buy” and an average target price of $46.30.

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.