Insider Selling: Toast, Inc. (NYSE:TOST) Director Sells $3,667,000.00 in Stock

Toast, Inc. (NYSE:TOST) Director Richard Kent Bennett sold 100,000 shares of Toast stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the sale, the director now directly owns 418,591 shares in the company, valued at approximately $15,349,731.97. This trade represents a 19.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Toast Stock Up 0.6 %

Shares of TOST opened at $40.61 on Friday. The company has a market cap of $19.12 billion, a P/E ratio of -312.35 and a beta of 1.74. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $41.05. The firm’s 50 day moving average price is $29.75 and its 200 day moving average price is $26.53.

Institutional Trading of Toast

A number of large investors have recently modified their holdings of the stock. Capital International Investors boosted its holdings in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares during the period. FMR LLC boosted its stake 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 buying an additional 8,205,053 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares in the last quarter. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the third quarter worth approximately $438,301,000. Finally, Champlain Investment Partners LLC raised its holdings in Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after acquiring an additional 833,390 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TOST. Robert W. Baird raised their price target on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America upped their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. DA Davidson upped their target price on Toast from $35.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.75.

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.