Stephen Fredette Sells 7,289 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 7,289 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the sale, the president directly owned 920,985 shares in the company, valued at $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, February 3rd, Stephen Fredette sold 1,060 shares of Toast stock. The stock was sold at an average price of $30.34, for a total value of $32,160.40.
• 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 value of $167,293.08.

Toast Stock Down 0.1%

Shares of TOST stock traded down $0.03 during trading on Friday, reaching $26.44. 9,600,162 shares of the company’s stock were exchanged, compared to its average volume of 10,888,302. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The firm’s fifty day moving average price is $28.25 and its 200-day moving average price is $33.41. The stock has a market capitalization of $13.86 billion, a PE ratio of 48.97 and a beta of 1.90.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast declared that its Board of Directors has approved a share buyback plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TOST shares. Citigroup reduced their price objective on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Oppenheimer lowered their target price on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. The Goldman Sachs Group dropped their price target on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Jefferies Financial Group set a $35.00 price objective on Toast in a report on Friday, February 13th. Finally, Evercore upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Tuesday, January 20th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Toast has an average rating of “Moderate Buy” and an average target price of $39.88.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in TOST. Bayban bought a new stake in shares of Toast in the fourth quarter valued at approximately $25,000. Quent Capital LLC acquired a new position in Toast in the 3rd quarter valued at $27,000. SHP Wealth Management acquired a new position in Toast in the 4th quarter valued at $29,000. Alpine Bank Wealth Management bought a new stake in shares of Toast during the 3rd quarter valued at $30,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Toast during the 4th quarter worth $29,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast News Roundup

Here are the key news stories impacting Toast this week:

• Neutral Sentiment: Loop Capital initiated coverage of Toast with a “Hold” rating, which removes an immediate buy catalyst and may cap near‑term upside until clearer growth/profitability signals arrive. Loop Capital coverage
• Neutral Sentiment: Toast has been heavily searched by investors (Zacks spotlight), which can increase short‑term volume and volatility but doesn’t itself change fundamentals. Zacks: Investors Heavily Search
• Negative Sentiment: Multiple senior executives sold stock on April 2 (CEO Aman Narang, CFO Elena Gomez, President Stephen Fredette, General Counsel Brian Elworthy, and CRO Jonathan Vassil), collectively disposing of roughly $1.04M of shares at about $26.19 each. The CEO’s sale reduced his holding by ~19.95%; other insiders also trimmed positions. Clustered sales by top management can be perceived negatively by the market (signaling liquidity needs or reduced insider confidence), even if they stem from routine vesting/diversification; filings are available with the SEC. CEO SEC filing

Toast Company Profile

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.