Toast (NYSE:TOST) President Stephen Fredette Sells 7,550 Shares

Key Points

• Stephen Fredette, President of Toast, Inc., sold 7,550 shares of the company at an average price of $35.56, totaling approximately $268,478, which decreased his ownership by 0.83%.
• Toast reported a quarterly EPS of $0.13, missing the consensus estimate of $0.23, though revenue increased 24.8% year-over-year to $1.55 billion.
• The stock has seen ups and downs, with a 12-month high of $49.66 and a low of $27.65, while analysts have a consensus target price of $46.30 for TOST.

Toast, Inc. (NYSE:TOST - Get Free Report) President Stephen Fredette sold 7,550 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the sale, the president directly owned 898,475 shares of the company's stock, valued at $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, August 4th, Stephen Fredette sold 1,720 shares of Toast stock. The stock was sold at an average price of $48.38, for a total transaction of $83,213.60.

Toast Price Performance

Shares of TOST stock traded up $0.45 on Friday, hitting $36.58. The stock had a trading volume of 8,239,534 shares, compared to its average volume of 7,580,688. Toast, Inc. has a 12-month low of $27.65 and a 12-month high of $49.66. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. The business has a 50 day moving average of $42.57 and a 200 day moving average of $40.76.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The company's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. As a group, research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TOST. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Toast in a research report on Saturday, September 27th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley increased their price target on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus target price of $46.30.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its position in Toast by 331.0% in the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company's stock worth $380,978,000 after acquiring an additional 6,606,245 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after purchasing an additional 5,436,317 shares during the last quarter. Norges Bank purchased a new position in shares of Toast in the 2nd quarter worth about $219,324,000. Marshall Wace LLP increased its position in shares of Toast by 108.3% during 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 last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after buying an additional 3,490,686 shares in the last quarter. 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.

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