Insider Selling: Toast, Inc. (NYSE:TOST) President Sells 70,340 Shares of Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. This represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 Trading Down 6.5 %

Shares of Toast stock opened at $32.53 on Friday. The company has a fifty day simple moving average of $38.19 and a 200-day simple moving average of $34.58. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of -3,249.65, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TOST shares. Oppenheimer assumed coverage on Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Morgan Stanley lifted their target price on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Toast in a research note 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 company. According to MarketBeat.com, Toast presently has an average rating of “Hold” and an average price target of $40.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. acquired a new stake in shares of Toast in the third quarter valued at approximately $438,301,000. FMR LLC increased its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after acquiring an additional 8,205,053 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Toast in the 4th quarter valued at $282,010,000. Norges Bank acquired a new stake in Toast during the 4th quarter worth $205,888,000. Finally, Vanguard Group Inc. grew its position in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during 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.