Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 7,647 Shares

Toast, Inc. (NYSE:TOST - Get Free Report) President Stephen Fredette sold 7,647 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares of the company's stock, valued at approximately $37,863,234.03. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Toast Stock Down 1.7%

Shares of Toast stock traded down $0.78 during trading on Tuesday, hitting $44.05. The stock had a trading volume of 4,947,527 shares, compared to its average volume of 6,746,016. The stock has a 50 day simple moving average of $41.91 and a 200 day simple moving average of $38.45. The company has a market capitalization of $21.94 billion, a PE ratio of 191.52 and a beta of 2.00. Toast, Inc. has a 1 year low of $22.10 and a 1 year high of $46.53.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TOST shares. BMO Capital Markets lifted their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Morgan Stanley increased their price target on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group cut their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Truist Financial began coverage on Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.21.

Institutional Trading of Toast

A number of hedge funds have recently modified their holdings of the business. US Bancorp DE raised its holdings in Toast by 5.1% during the fourth quarter. US Bancorp DE now owns 41,765 shares of the company's stock valued at $1,522,000 after buying an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp grew its position in Toast by 139.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,609 shares of the company's stock worth $132,000 after acquiring an additional 2,103 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Toast during the 4th quarter valued at about $35,000. Charles Schwab Investment Management Inc. grew its stake in shares of Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after purchasing an additional 155,446 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Toast by 139.3% during the fourth quarter. Victory Capital Management Inc. now owns 118,839 shares of the company's stock worth $4,332,000 after acquiring an additional 69,176 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.