Toast, Inc. (NYSE:TOST) President Sells $1,648,967.19 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 47,073 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $35.03, for a total value of $1,648,967.19. Following the completion of the transaction, the president now owns 1,491,773 shares in the company, valued at approximately $52,256,808.19. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 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 shares were sold at an average price of $39.63, for a total value of $42,324.84.

Toast Stock Performance

Toast stock traded up $1.30 during midday trading on Wednesday, hitting $35.09. 5,944,330 shares of the company’s stock were exchanged, compared to its average volume of 6,501,173. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market cap of $17.33 billion, a P/E ratio of -3,505.39, a PEG ratio of 2.16 and a beta of 1.99. The stock has a 50-day moving average price of $37.90 and a two-hundred day moving average price of $34.91.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) 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 net margin of 0.40% and a return on equity of 1.54%. As a group, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently bought and sold shares of the stock. ValueAct Holdings L.P. purchased a new position in Toast in the 3rd quarter worth approximately $438,301,000. FMR LLC increased its stake in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Toast during the 4th quarter valued at about $282,010,000. Norges Bank purchased a new position in shares of Toast during the 4th quarter valued at $205,888,000. Finally, Vanguard Group Inc. boosted its stake in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TOST shares. The Goldman Sachs Group set a $40.00 target price on Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird upped their price objective on shares of Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. BMO Capital Markets upped their price target on shares of Toast from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. raised their target price on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Hold” and an average target price 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.