Insider Selling: Toast, Inc. (NYSE:TOST) President Sells $5,178,042.24 in Stock

by · The Cerbat Gem

Toast, Inc. (NYSE:TOST – Get Free Report) President Stephen Fredette sold 181,304 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $28.56, for a total value of $5,178,042.24. Following the sale, the president now directly owns 1,897,378 shares of the company’s stock, valued at approximately $54,189,115.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Wednesday, October 2nd, Stephen Fredette sold 5,511 shares of Toast stock. The shares were sold at an average price of $27.77, for a total value of $153,040.47.
  • On Monday, September 30th, Stephen Fredette sold 812 shares of Toast stock. The stock was sold at an average price of $28.28, for a total transaction of $22,963.36.
  • On Monday, September 23rd, Stephen Fredette sold 8,057 shares of Toast stock. The stock was sold at an average price of $28.02, for a total value of $225,757.14.
  • On Friday, September 20th, Stephen Fredette sold 144,238 shares of Toast stock. The shares were sold at an average price of $27.34, for a total transaction of $3,943,466.92.
  • On Wednesday, September 18th, Stephen Fredette sold 800 shares of Toast stock. The stock was sold at an average price of $27.00, for a total value of $21,600.00.
  • 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 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 transaction of $27,048.00.

Toast Stock Up 1.6 %

Shares of TOST opened at $27.88 on Friday. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $29.92. The company’s fifty day moving average is $25.27 and its 200-day moving average is $24.77. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of -55.76 and a beta of 1.76.

Toast (NYSE:TOST – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on TOST shares. Morgan Stanley upped their price objective on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and upped their price target for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Bank of America boosted 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. Finally, Wedbush raised shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.33.

Get Our Latest Stock Analysis on TOST

Institutional Trading of Toast

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

Toast Company Profile

(Get Free Report)

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.

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