Insider Selling: Toast (NYSE:TOST) President Sells $32,160.40 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 1,060 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the transaction, the president owned 913,067 shares in the company, valued at $27,702,452.78. The trade was a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, January 5th, Stephen Fredette sold 4,866 shares of Toast stock. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08.

Toast Stock Up 0.1%

TOST stock traded up $0.03 during mid-day trading on Wednesday, reaching $28.28. 22,144,637 shares of the stock traded hands, compared to its average volume of 10,427,690. The firm has a market capitalization of $14.56 billion, a PE ratio of 65.77 and a beta of 1.93. The business has a 50-day moving average of $34.61 and a two-hundred day moving average of $38.27. Toast, Inc. has a 52 week low of $27.28 and a 52 week high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TOST shares. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, December 1st. Stephens set a $42.00 target price on shares of Toast in a research report on Friday, January 16th. DA Davidson reduced their price target on shares of Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Monday. Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Toast in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.55.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. Alliancebernstein L.P. boosted its position in shares of Toast by 2,432.8% during the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after acquiring an additional 7,891,383 shares in the last quarter. Jennison Associates LLC boosted its holdings in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after purchasing an additional 6,606,245 shares in the last quarter. Norges Bank acquired a new stake in Toast during the second quarter valued at approximately $219,324,000. Marshall Wace LLP grew its stake in shares of Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after purchasing an additional 4,100,104 shares during the period. Finally, ValueAct Holdings L.P. acquired a new position in shares of Toast in the 3rd quarter worth approximately $124,032,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.