Brian Elworthy Sells 4,987 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 4,987 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the completion of the transaction, the general counsel directly owned 227,924 shares of the company’s stock, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Toast Stock Up 1.3%

NYSE TOST opened at $36.58 on Friday. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. The business has a fifty day moving average of $42.32 and a 200-day moving average of $40.82. Toast, Inc. has a fifty-two week low of $27.65 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently added to or reduced their stakes in TOST. IFM Investors Pty Ltd boosted its position in shares of Toast by 29.2% in the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after buying an additional 18,950 shares during the period. Procyon Advisors LLC purchased a new stake in shares of Toast in the first quarter worth about $242,000. Charles Schwab Investment Management Inc. boosted its position in shares of Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after buying an additional 153,723 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock worth $829,000 after buying an additional 3,713 shares during the period. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Toast in the first quarter worth about $252,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TOST has been the subject of several analyst reports. Barclays reiterated an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price for the company. Robert W. Baird set a $48.00 target price on Toast in a research note on Monday, September 22nd. Truist Financial upped their target price on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley upped their price target on Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.30.

Toast Company Profile

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.