Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 47,073 Shares of Stock

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

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 Up 2.3 %

Shares of TOST stock opened at $35.90 on Friday. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock has a market cap of $17.73 billion, a PE ratio of -3,586.01, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The business has a 50-day simple moving average of $37.83 and a 200-day simple moving average of $34.92.

Toast (NYSE:TOST) last announced its quarterly earnings results 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 company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. Sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. acquired a new position in shares of Toast in the third quarter worth about $438,301,000. FMR LLC boosted its position in Toast by 50.5% during the third 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 acquired a new stake in Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank purchased a new stake in shares of Toast in the fourth quarter valued at approximately $205,888,000. Finally, Vanguard Group Inc. raised its stake in shares of Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the subject of several recent analyst reports. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods increased their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Toast in a research note on Thursday, February 20th. Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, UBS Group raised their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.