Insider Selling: Toast, Inc. (NYSE:TOST) Director Sells 80,000 Shares of Stock

Toast, Inc. (NYSE:TOST) Director Christopher P. Comparato sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $24.23, for a total transaction of $1,938,400.00. Following the sale, the director now owns 97,762 shares of the company’s stock, valued at $2,368,773.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Toast Stock Down 0.4 %

Shares of Toast stock opened at $25.69 on Thursday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90. The company has a 50 day moving average of $24.36 and a 200 day moving average of $21.89. The company has a market capitalization of $11.64 billion, a P/E ratio of -51.38 and a beta of 1.75.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. As a group, research analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TOST shares. Stephens restated an “equal weight” rating and set a $28.00 price objective on shares of Toast in a research report on Thursday, May 30th. Canaccord Genuity Group raised their price objective on shares of Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Baird R W cut shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. The Goldman Sachs Group lifted their price target on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Piper Sandler lifted their price target on shares of Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.14.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Toast in the first quarter worth approximately $27,000. Principal Securities Inc. purchased a new stake in shares of Toast during the 4th quarter worth approximately $30,000. Cape Investment Advisory Inc. purchased a new stake in shares of Toast during the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. purchased a new stake in shares of Toast during the 3rd quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Toast during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.