Toast (NYSE:TOST) General Counsel Brian Elworthy Sells 6,352 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 6,352 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $183,255.20. Following the transaction, the general counsel owned 196,909 shares in the company, valued at approximately $5,680,824.65. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Up 2.5%

Shares of Toast stock traded up $0.72 on Monday, hitting $29.54. The stock had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. The stock’s 50-day simple moving average is $25.64 and its two-hundred day simple moving average is $28.66. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 45.45 and a beta of 1.74.

Hedge Funds Weigh In On Toast

Several large investors have recently added to or reduced their stakes in TOST. Bayban purchased a new stake in Toast in the 4th quarter worth $25,000. SHP Wealth Management bought a new position in shares of Toast during the fourth quarter worth $29,000. Strive Financial Group LLC purchased a new position in Toast during the fourth quarter valued at $29,000. Central Pacific Bank Trust Division lifted its stake in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. Finally, Silicon Valley Capital Partners purchased a new position in Toast during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of research reports. Truist Financial decreased their price objective on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Oppenheimer restated an “outperform” rating and set a $36.00 price target on shares of Toast in a report on Friday, May 8th. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a report on Monday, June 1st. Finally, Mizuho cut their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Two research 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 stock. According to data from MarketBeat, Toast presently has an average rating of “Moderate Buy” and an average target price of $37.62.

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.