Insider Selling: Toast (NYSE:TOST) CEO Sells 8,591 Shares of Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 8,591 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the sale, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at $11,649,663. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, November 4th, Aman Narang sold 1,732 shares of Toast stock. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28.

Toast Stock Up 4.6%

Shares of TOST traded up $1.60 during trading hours on Tuesday, reaching $36.10. The stock had a trading volume of 9,837,586 shares, compared to its average volume of 10,598,903. The company has a market cap of $18.59 billion, a P/E ratio of 83.95 and a beta of 1.93. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The firm has a 50-day moving average of $35.46 and a 200 day moving average of $39.80.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. BNP Paribas Exane raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Finally, The Goldman Sachs Group reduced their price objective on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.18.

Hedge Funds Weigh In On Toast

Large investors have recently modified their holdings of the business. IFM Investors Pty Ltd grew its holdings in shares of Toast by 29.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock valued at $3,712,000 after purchasing an additional 18,950 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in Toast in the 2nd quarter valued at approximately $1,329,000. Reliant Investment Partners LLC acquired a new stake in Toast in the second quarter valued at approximately $472,000. Northeast Investment Management boosted its position in Toast by 52.3% in the second quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock valued at $3,529,000 after buying an additional 27,365 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Toast during the second quarter worth $1,169,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.