Elena Gomez Sells 16,176 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 16,176 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total value of $570,851.04. Following the completion of the transaction, the chief financial officer directly owned 168,974 shares in the company, valued at $5,963,092.46. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Elena Gomez also recently made the following trade(s):

• On Thursday, August 6th, Elena Gomez sold 900 shares of Toast stock. The stock was sold at an average price of $35.02, for a total transaction of $31,518.00.
• On Thursday, July 2nd, Elena Gomez sold 11,605 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25.

Toast Trading Down 0.7%

Toast stock traded down $0.26 during midday trading on Friday, hitting $34.47. The stock had a trading volume of 10,398,928 shares, compared to its average volume of 11,830,787. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $46.11. The firm’s fifty day moving average is $28.28 and its two-hundred day moving average is $27.85. The company has a market capitalization of $17.78 billion, a PE ratio of 44.19 and a beta of 1.72.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts predict that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

Several large investors have recently modified their holdings of TOST. Capelight Capital Asset Management LP purchased a new stake in Toast during the fourth quarter worth $2,131,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Toast by 6.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company’s stock worth $34,524,000 after acquiring an additional 57,512 shares during the last quarter. Lecap Asset Management Ltd. grew its position in Toast by 206.7% during the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock worth $2,099,000 after purchasing an additional 39,847 shares during the last quarter. Campbell Capital Management Inc. purchased a new stake in shares of Toast during the fourth quarter valued at $9,812,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Toast by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 514,992 shares of the company’s stock valued at $18,287,000 after purchasing an additional 52,959 shares during the period. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TOST. Piper Sandler increased their price target on shares of Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore reissued an “outperform” rating on shares of Toast in a research report on Wednesday. Morgan Stanley set a $45.00 price objective on shares of Toast in a research note on Friday, May 8th. Oppenheimer increased their target price on shares of Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, DA Davidson upped their price target on shares of Toast from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.62.

About Toast

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.