Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 2,878 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,878 shares of Toast stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $79,922.06. Following the completion of the sale, the general counsel now directly owns 177,836 shares in the company, valued at $4,938,505.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Toast Stock Up 3.2 %

Shares of NYSE TOST opened at $28.77 on Friday. The stock’s 50-day simple moving average is $25.39 and its two-hundred day simple moving average is $24.84. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $29.92. The firm has a market capitalization of $13.26 billion, a P/E ratio of -57.54 and a beta of 1.76.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned ($0.19) earnings per share. Toast’s revenue for the quarter was up 27.0% compared to the same quarter last year. As a group, research analysts anticipate that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. Morgan Stanley upped their price objective on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Toast in a research note on Wednesday, August 7th. Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mirador Capital Partners LP lifted its stake in Toast by 7.4% during the third quarter. Mirador Capital Partners LP now owns 41,578 shares of the company’s stock worth $1,177,000 after purchasing an additional 2,862 shares during the last quarter. Truist Financial Corp purchased a new stake in Toast in the second quarter worth approximately $618,000. Kampmann Melissa S. bought a new position in Toast during the second quarter valued at approximately $1,122,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares in the last quarter. Finally, Ascent Group LLC bought a new stake in shares of Toast in the 2nd quarter worth approximately $333,000. 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.