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Stephen Fredette, President of Toast , Inc. (NYSE:TOST), recently sold shares of the company’s Class A common stock, according to a recent SEC filing. The transaction, which took place on February 4, 2025, involved the sale of 1,068 shares at an average price of $39.629 per share, totaling approximately $42,323. The sale comes as Toast’s stock has shown remarkable strength, delivering a 114% return over the past year and trading near its 52-week high of $44.12. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
Following this transaction, Fredette holds 1,644,656 shares directly. Additionally, he maintains indirect ownership of shares through several trusts: 66,896 shares by the Fredette Family Nominee Trust, 2,303,442 shares by the SHFA 2021 Nominee Trust, and 419,991 shares by the SHFA Family Trust. With Toast’s market capitalization now reaching $22.29 billion and showing strong momentum with a 64% gain over the past six months, investors can access detailed valuation metrics and 10+ additional ProTips through InvestingPro’s comprehensive research reports.
The filing also notes that Fredette holds an aggregate of 25,722,670 shares of Class B common stock, which are convertible into Class A shares at any time. It’s important to highlight that the recent sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units and was not a discretionary trade by Fredette.
In other recent news, Toast Inc. has been the subject of multiple analyst reports. DA Davidson reiterated a neutral rating on the company with a price target of $38.00, expecting the upcoming earnings report to either meet or slightly surpass forecasts. Oppenheimer initiated coverage of Toast with an Outperform rating and a price target of $46.00, forecasting a compound annual growth rate (CAGR) of 25% in recurring gross profit over the next two years. BMO Capital Markets also started coverage on Toast with an Outperform rating and set a price target of $45.00, expecting attractive unit economics and EBITDA upside.
Additionally, an RBC analyst has highlighted a positive shift in the sentiment of American small and medium-sized businesses (SMBs), which is expected to catalyze technology investments in areas such as Payments, Processors, and IT Services. Toast is identified as a potential beneficiary of this trend.
In other company news, Toast has expanded its collaboration with Uber Technologies Inc . (NYSE:UBER) The extended partnership integrates Toast Delivery Services with Uber Direct, allowing restaurants to utilize Uber’s vast delivery network for orders placed via Toast’s various digital ordering channels. These are the recent developments in the company’s operations.
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