Toast (NYSE:TOST) CEO Aman Narang Sells 14,365 Shares of Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 14,365 shares of Toast stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the completion of the transaction, the chief executive officer directly owned 70,451 shares in the company, valued at $2,032,511.35. This represents a 16.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Performance

Shares of NYSE TOST traded up $0.72 during mid-day trading on Monday, reaching $29.54. The company had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. The stock’s 50 day moving average is $25.64 and its 200-day moving average is $28.66. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The stock has a market capitalization of $15.24 billion, a PE ratio of 45.45 and a beta of 1.74.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TOST shares. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Rothschild & Co Redburn restated a “neutral” rating and issued a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. Mizuho cut their price objective on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Loop Capital assumed coverage on Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price for the company. Finally, Morgan Stanley set a $45.00 price objective on shares of Toast in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.62.

Institutional Trading of Toast

Hedge funds have recently added to or reduced their stakes in the business. Wynn Capital LLC raised its holdings in shares of Toast by 2.1% during the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after acquiring an additional 280 shares during the period. BOKF NA grew its stake in shares of Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after acquiring an additional 345 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Toast by 0.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after purchasing an additional 358 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Toast by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares in the last quarter. Finally, Seven Mile Advisory lifted its position in Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after buying an additional 381 shares in the last quarter. Institutional investors and hedge funds 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.