Toast, Inc. (NYSE:TOST) President Stephen Fredette Sells 47,073 Shares

Toast, Inc. (NYSE:TOST - Get Free Report) President Stephen Fredette sold 47,073 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $35.03, for a total transaction of $1,648,967.19. Following the transaction, the president now directly owns 1,491,773 shares in the company, valued at approximately $52,256,808.19. This represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, March 19th, Stephen Fredette sold 44,056 shares of Toast stock. The stock was sold at an average price of $35.15, for a total value of $1,548,568.40.
• On Wednesday, March 12th, Stephen Fredette sold 300 shares of Toast stock. The shares were sold at an average price of $35.00, for a total value of $10,500.00.
• On Friday, March 7th, Stephen Fredette sold 70,340 shares of Toast stock. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80.
• On Tuesday, February 4th, Stephen Fredette sold 1,068 shares of Toast stock. The shares were sold at an average price of $39.63, for a total value of $42,324.84.

Toast Stock Performance

Shares of NYSE:TOST traded up $0.97 on Monday, hitting $36.16. The company's stock had a trading volume of 6,035,115 shares, compared to its average volume of 6,506,987. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock's 50-day moving average is $37.84 and its two-hundred day moving average is $35.23. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of -3,612.09, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

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Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group set a $40.00 price target on shares of Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. BMO Capital Markets lifted their target price on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They issued an "outperform" rating and a $46.00 price target for the company. Robert W. Baird raised their price objective on Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.48.

Hedge Funds Weigh In On Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. bought a new position in Toast during the third quarter valued at about $438,301,000. FMR LLC grew its stake in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast in the 4th quarter worth approximately $282,010,000. Norges Bank bought a new stake in Toast during the fourth quarter worth approximately $205,888,000. Finally, Vanguard Group Inc. grew its position in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

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.