Aman Narang Sells 124,542 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 124,542 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 $4,395,087.18. Following the sale, the chief executive officer directly owned 175,458 shares of the company’s stock, valued at $6,191,912.82. The trade was a 41.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The shares were sold at an average price of $35.02, for a total transaction of $473,120.20.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25.

Toast Stock Performance

Shares of Toast stock traded down $0.26 on Friday, reaching $34.47. The company had a trading volume of 10,398,928 shares, compared to its average volume of 11,830,787. The firm’s 50 day moving average price is $28.28 and its two-hundred day moving average price is $27.85. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $46.11. The firm has a market cap of $17.78 billion, a PE ratio of 44.19 and a beta of 1.72.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TOST shares. Truist Financial boosted their price objective on Toast from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 24th. UBS Group lifted their target price on Toast from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price target on shares of Toast from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley set a $45.00 target price on shares of Toast in a research note on Friday, May 8th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.62.

Hedge Funds Weigh In On Toast

Several hedge funds have recently added to or reduced their stakes in TOST. Capelight Capital Asset Management LP purchased a new stake in Toast in the 4th quarter valued at approximately $2,131,000. Robeco Institutional Asset Management B.V. increased its holdings in Toast by 6.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company’s stock valued at $34,524,000 after buying an additional 57,512 shares in the last quarter. Lecap Asset Management Ltd. lifted its position in shares of Toast by 206.7% during the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock valued at $2,099,000 after acquiring an additional 39,847 shares during the period. Campbell Capital Management Inc. acquired a new stake in shares of Toast during the 4th quarter valued at approximately $9,812,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Toast by 11.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 514,992 shares of the company’s stock worth $18,287,000 after acquiring an additional 52,959 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.