Insider Selling: Toast (NYSE:TOST) CEO Sells $1,479,148.65 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 42,105 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $35.13, for a total value of $1,479,148.65. Following the transaction, the chief executive officer directly owned 119,843 shares of the company’s stock, valued at $4,210,084.59. This trade represents a 26.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 10th, Aman Narang sold 119,843 shares of Toast stock. The stock was sold at an average price of $35.38, for a total value of $4,240,045.34.
• 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 value of $473,120.20.
• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The shares were 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 stock was sold at an average price of $28.85, for a total value of $414,430.25.

Toast Trading Up 3.3%

TOST stock opened at $35.20 on Friday. The stock has a market capitalization of $18.09 billion, a P/E ratio of 45.12 and a beta of 1.72. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $45.64. The firm has a 50-day moving average price of $29.15 and a 200-day moving average price of $27.90.

Toast (NYSE:TOST) last announced its quarterly 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). The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, equities analysts predict that Toast, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TOST. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. Morgan Stanley set a $45.00 price target on Toast in a research note on Friday, May 8th. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, July 9th. Finally, Oppenheimer increased their target price on Toast from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Seventeen equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Hedge Funds Weigh In On Toast

Several large investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Toast in the fourth quarter worth $202,808,000. ValueAct Holdings L.P. raised its position in Toast by 135.9% during the 4th quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock worth $284,622,000 after purchasing an additional 4,618,077 shares during the last quarter. XN LP lifted its holdings in Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after buying an additional 3,029,856 shares during the period. Principal Financial Group Inc. grew its position in shares of Toast by 36.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock valued at $211,478,000 after buying an additional 2,111,009 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Toast by 343.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock valued at $79,377,000 after buying an additional 1,388,210 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

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.