Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 800 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 800 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.00, for a total transaction of $21,600.00. Following the completion of the transaction, the president now directly owns 2,344,885 shares in the company, valued at $63,311,895. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, September 12th, Stephen Fredette sold 101,574 shares of Toast stock. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02.
• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02.
• On Friday, August 2nd, Stephen Fredette sold 1,127 shares of Toast stock. The stock was sold at an average price of $24.00, for a total transaction of $27,048.00.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.71 on Monday. The company has a market cap of $12.55 billion, a P/E ratio of -55.42 and a beta of 1.75. The stock’s 50-day moving average is $25.08 and its 200-day moving average is $24.58. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, equities analysts predict that Toast, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TOST shares. Wedbush raised shares of Toast to a “strong-buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their target price on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Bank of America raised their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Stephens restated an “equal weight” rating and set a $28.00 target price on shares of Toast in a report on Thursday, May 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $27.00 target price on shares of Toast in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after buying an additional 421 shares in the last quarter. Park Avenue Securities LLC grew its position in Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after buying an additional 436 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Toast by 8.4% during the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after purchasing an additional 520 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Toast by 10.9% during the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after purchasing an additional 607 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.