Toast (NYSE:TOST) President Sells $263,862.10 in Stock

Toast, Inc. (NYSE:TOST) President Stephen Fredette sold 9,146 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $263,862.10. Following the completion of the sale, the president directly owned 931,449 shares of the company’s stock, valued at $26,872,303.65. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Price Performance

Shares of Toast stock traded up $0.72 on Monday, hitting $29.54. The company had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. The company has a market cap of $15.24 billion, a PE ratio of 45.45 and a beta of 1.74. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The business has a 50-day simple moving average of $25.64 and a 200-day simple moving average of $28.66.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TOST. Piper Sandler started coverage on Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price objective for the company. Mizuho cut their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. DA Davidson dropped their price target on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Finally, UBS Group decreased their price objective on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.62.

Institutional Investors Weigh In On Toast

Institutional investors have recently bought and sold shares of the business. Capital International Investors grew its position in Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after acquiring an additional 3,351,545 shares during the period. Nordea Investment Management AB grew its position in Toast by 843.0% during the 4th quarter. Nordea Investment Management AB now owns 1,307,158 shares of the company’s stock worth $46,888,000 after acquiring an additional 1,168,539 shares during the last quarter. Victory Capital Management Inc. raised its position in Toast by 207.8% in the 3rd quarter. Victory Capital Management Inc. now owns 777,861 shares of the company’s stock valued at $28,400,000 after purchasing an additional 525,159 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Toast by 227.8% in the third quarter. Dynamic Technology Lab Private Ltd now owns 69,655 shares of the company’s stock valued at $2,543,000 after buying an additional 48,405 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Toast by 285.3% in the fourth quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock valued at $10,237,000 after buying an additional 213,459 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.