Toast (NYSE:TOST) CEO Sells $431,826.55 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 14,713 shares of the company’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $431,826.55. Following the completion of the sale, the chief executive officer owned 86,543 shares in the company, valued at $2,540,037.05. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Aman Narang also recently made the following trade(s):

• On Monday, August 10th, Aman Narang sold 119,843 shares of Toast stock. The shares were sold at an average price of $35.38, for a total value of $4,240,045.34.
• On Friday, August 7th, Aman Narang sold 42,105 shares of Toast stock. The shares were sold at an average price of $35.13, for a total value of $1,479,148.65.
• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The stock was sold at an average price of $35.02, for a total value of $473,120.20.
• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The stock was sold at an average price of $35.29, for a total value of $4,395,087.18.

Toast Stock Up 1.1%

TOST stock opened at $30.59 on Thursday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $39.72. The stock’s 50 day moving average is $32.96 and its 200-day moving average is $29.01. The firm has a market capitalization of $15.72 billion, a PE ratio of 39.22 and a beta of 1.74.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned $0.13 EPS. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities research analysts anticipate that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayban purchased a new stake in Toast during the fourth quarter worth about $25,000. SHP Wealth Management purchased a new position in Toast in the fourth quarter valued at about $29,000. Ancora Advisors LLC purchased a new position in Toast in the second quarter valued at about $31,000. Montag A & Associates Inc. grew its position in shares of Toast by 172.0% during the 1st quarter. Montag A & Associates Inc. now owns 1,455 shares of the company’s stock valued at $39,000 after acquiring an additional 920 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in shares of Toast by 213.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock valued at $44,000 after acquiring an additional 1,068 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Truist Financial boosted their price target on shares of Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Oppenheimer upped their price objective on shares of Toast from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, July 9th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.12.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.