Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $21,600.00 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.00, for a total value of $21,600.00. Following the transaction, the president now directly owns 2,344,885 shares of the company’s stock, 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 shares were sold at an average price of $25.73, for a total value of $2,613,499.02.
• On Tuesday, September 10th, Stephen Fredette sold 211,686 shares of Toast stock. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02.
• On Friday, August 2nd, Stephen Fredette sold 1,127 shares of Toast stock. The shares were sold at an average price of $24.00, for a total value of $27,048.00.
• On Tuesday, July 2nd, Stephen Fredette sold 3,810 shares of Toast stock. The shares were sold at an average price of $25.64, for a total value of $97,688.40.

Toast Stock Performance

Shares of NYSE:TOST opened at $27.71 on Monday. Toast, Inc. has a one year low of $13.77 and a one year high of $27.90. The stock has a fifty day moving average of $25.08 and a 200-day moving average of $24.58. The company has a market capitalization of $12.55 billion, a PE ratio of -55.42 and a beta of 1.75.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.19) EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, research analysts forecast that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Toast

A number of institutional investors and hedge funds have recently modified their holdings of TOST. Principal Securities Inc. acquired a new stake in shares of Toast during the 4th quarter valued at $30,000. Envestnet Portfolio Solutions Inc. raised its stake in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after purchasing an additional 774 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Toast by 8,092.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 69,386 shares of the company’s stock valued at $1,267,000 after purchasing an additional 68,539 shares during the period. Norges Bank acquired a new stake in Toast during the 4th quarter valued at $76,699,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Toast by 359.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,903 shares of the company’s stock valued at $108,000 after purchasing an additional 4,617 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Bank of America increased their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Morgan Stanley increased their price objective on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of Toast in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their price objective on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.