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Boston, MA - Toast , Inc. (NYSE:TOST) President Stephen Fredette recently sold a substantial portion of his holdings in the company, according to a recent SEC filing. On March 19, Fredette sold 109,713 shares of Toast’s Class A Common Stock, generating a total of approximately $3.86 million. The shares were sold at prices ranging from $35.00 to $35.56, near the current trading price of $35.19. According to InvestingPro data, the stock has shown significant momentum with a 47% return over the past year.
In addition to the sales, Fredette made a gift of 45,585 shares on March 20, with no financial consideration involved. Following these transactions, Fredette maintains ownership of 1,402,132 shares directly and holds additional shares indirectly through various trusts. InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value, with 8 analysts recently revising their earnings expectations upward.
Toast, Inc., headquartered in Boston, is a prominent player in the computer processing and data preparation services sector. The company, now valued at $20.63 billion, has demonstrated strong revenue growth of 28% in the last twelve months, maintaining healthy liquidity with a current ratio of 2.44.
In other recent news, Toast Inc. reported fourth-quarter earnings that exceeded expectations, prompting DA Davidson to raise its price target for the company from $38 to $42 while maintaining a Neutral rating. The company’s revenue for the quarter was 2% higher than projected, and its adjusted EBITDA surpassed forecasts by 16%. Toast also provided an optimistic outlook for 2025, forecasting a 23%-25% year-over-year growth in Non-GAAP FinTech & Subscription gross profit and a 37%-42% increase in adjusted EBITDA. UBS analyst Tim Chiodo maintained a Buy rating with a $47 price target, highlighting Toast’s potential to capture a significant share of new restaurant cloud Point of Sale locations in the U.S. by 2025. Piper Sandler kept a Neutral rating with a $35 target, noting Toast’s substantial growth in subscription and financial products gross profit and its planned investments in international markets and the food and beverage sector for 2025. Bernstein analysts indicated that Toast might face high single-digit negative revisions on gross profit and double-digit EPS revisions in a potential recession scenario due to its exposure to new business formation and discretionary spending. These developments reflect the company’s ongoing efforts to expand its market presence and improve profitability.
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