Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 1,720 Shares of Stock

Key Points

• Stephen Fredette, President of Toast, Inc., sold 1,720 shares at an average price of $48.38, totaling approximately $83,213.60, reducing his ownership by 0.19% to 890,818 shares.
• Toast's shares have seen a 3.5% decline recently, currently trading at $46.03, with a market capitalization of $22.92 billion and a PE ratio of 135.38.
• In its latest quarterly report, Toast missed earnings estimates with an EPS of $0.13 against the expected $0.23 but reported a revenue increase of 24.8% compared to the previous year.

Toast, Inc. (NYSE:TOST - Get Free Report) President Stephen Fredette sold 1,720 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the transaction, the president owned 890,818 shares in the company, valued at $43,097,774.84. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, July 2nd, Stephen Fredette sold 7,647 shares of Toast stock. The stock was sold at an average price of $42.59, for a total transaction of $325,685.73.

Toast Trading Down 3.5%

Shares of TOST traded down $1.68 during trading hours on Wednesday, hitting $46.03. 21,521,596 shares of the stock traded hands, compared to its average volume of 8,380,847. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $49.66. The business has a fifty day moving average of $44.52 and a 200-day moving average of $39.85. The firm has a market capitalization of $22.92 billion, a PE ratio of 135.38 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a return on equity of 14.81% and a net margin of 4.07%. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TOST shares. BMO Capital Markets lifted their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Barclays restated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Needham & Company LLC boosted their price objective on shares of Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Truist Financial boosted their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus target price of $45.54.

Institutional Trading of Toast

Several hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Toast in the second quarter worth approximately $31,000. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter valued at about $34,000. REAP Financial Group LLC raised its position in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company's stock valued at $35,000 after purchasing an additional 506 shares during the last quarter. Piscataqua Savings Bank grew its holdings in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares during the period. Finally, West Branch Capital LLC grew its stake in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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.

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