Insider Selling: Toast (NYSE:TOST) CEO Sells 13,510 Shares of Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 13,510 shares of Toast stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $35.02, for a total value of $473,120.20. Following the transaction, the chief executive officer owned 161,948 shares of the company’s stock, valued at approximately $5,671,418.96. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 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.
• 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 TOST traded down $0.26 during trading hours 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. The firm has a 50-day moving average price of $28.28 and a 200 day moving average price of $27.85. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $46.11. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 44.19 and a beta of 1.72.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 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 firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business posted $0.13 EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, analysts predict that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Toast

Several large investors have recently bought and sold shares of TOST. Bayban acquired a new position in shares of Toast during the fourth quarter valued at approximately $25,000. SHP Wealth Management acquired a new position in Toast in the 4th quarter valued at $29,000. Strive Financial Group LLC purchased a new position in Toast in the 4th quarter valued at $29,000. Silicon Valley Capital Partners acquired a new stake in Toast during the 4th quarter worth $36,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TOST shares. Robert W. Baird lifted their price target on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wells Fargo & Company raised their price objective on Toast from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley set a $45.00 price objective on Toast in a research report on Friday, May 8th. Citigroup upped their target price on Toast from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and nine have issued 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.

Toast Company Profile

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.