Stephen Fredette Sells 1,060 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,060 shares of Toast stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $32,160.40. Following the transaction, the president owned 913,067 shares in the company, valued at $27,702,452.78. This represents a 0.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, January 5th, Stephen Fredette sold 4,866 shares of Toast stock. The stock was sold at an average price of $34.38, for a total value of $167,293.08.

Toast Trading Up 0.1%

NYSE:TOST traded up $0.03 on Wednesday, hitting $28.28. 22,144,637 shares of the company’s stock traded hands, compared to its average volume of 10,427,690. The company has a market cap of $14.56 billion, a PE ratio of 65.77 and a beta of 1.93. Toast, Inc. has a 1 year low of $27.28 and a 1 year high of $49.66. The firm has a 50-day moving average price of $34.61 and a 200-day moving average price of $38.27.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Toast

Several institutional investors have recently bought and sold shares of the stock. Pier 88 Investment Partners LLC lifted its position in shares of Toast by 23.4% in the fourth quarter. Pier 88 Investment Partners LLC now owns 16,430 shares of the company’s stock worth $583,000 after buying an additional 3,120 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Toast by 35.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,024 shares of the company’s stock valued at $285,000 after acquiring an additional 2,105 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in Toast in the 4th quarter worth approximately $178,000. Lighthouse Financial Services Inc. ADV bought a new stake in Toast during the fourth quarter worth approximately $598,000. Finally, International Assets Investment Management LLC acquired a new position in Toast during the fourth quarter valued at approximately $155,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a research report on Thursday, December 4th. Finally, Truist Financial set a $42.00 price target on Toast in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average price target of $45.55.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.