Insider Selling: Toast (NYSE:TOST) President Sells $274,950.80 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 9,368 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $274,950.80. Following the sale, the president directly owned 941,692 shares of the company’s stock, valued at approximately $27,638,660.20. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 1.1%

NYSE:TOST opened at $30.59 on Thursday. The firm has a market capitalization of $15.72 billion, a PE ratio of 39.22 and a beta of 1.74. The firm’s fifty day simple moving average is $32.96 and its 200 day simple moving average is $29.01. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $39.72.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. As a group, analysts anticipate that Toast, Inc. will post 1 EPS for the current fiscal year.

Institutional Investors Weigh In On Toast

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Toast by 36.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after purchasing an additional 2,111,009 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Toast by 5.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,579,046 shares of the company’s stock worth $162,602,000 after buying an additional 235,572 shares during the period. Bank of America Corp DE lifted its position in shares of Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company’s stock worth $129,003,000 after buying an additional 465,006 shares during the period. Renaissance Technologies LLC boosted its stake in Toast by 25.1% in the 1st quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company’s stock valued at $114,561,000 after buying an additional 867,509 shares in the last quarter. Finally, Amova Asset Management Americas Inc. grew its position in Toast by 0.4% in the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company’s stock valued at $101,176,000 after acquiring an additional 16,614 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TOST has been the topic of several research analyst reports. BTIG Research restated a “neutral” rating on shares of Toast in a research note on Thursday, August 27th. Oppenheimer upped their target price on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. UBS Group boosted their price objective on shares of Toast from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Needham & Company LLC upped their price objective on shares of Toast from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Sixteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.12.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.