Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 689 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 689 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $16,536.00. Following the transaction, the general counsel now directly owns 171,993 shares of the company’s stock, valued at $4,127,832. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Toast Stock Performance

Toast stock opened at $22.72 on Thursday. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The company has a market capitalization of $10.29 billion, a P/E ratio of -45.44 and a beta of 1.76. The stock has a 50-day simple moving average of $24.74 and a 200-day simple moving average of $23.52.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, analysts forecast that Toast, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on TOST shares. Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Toast in a research note on Thursday, May 30th. Robert W. Baird downgraded Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Tuesday, May 21st. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Wells Fargo & Company lifted their price target on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, May 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Toast in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $27.85.

Hedge Funds Weigh In On Toast

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Toast by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,310,196 shares of the company’s stock valued at $42,184,000 after acquiring an additional 150,425 shares during the period. Meritage Group LP acquired a new position in Toast in the 4th quarter valued at about $70,270,000. Susquehanna Fundamental Investments LLC acquired a new position in Toast in the 1st quarter valued at about $5,078,000. Syon Capital LLC acquired a new position in Toast in the 4th quarter valued at about $377,000. Finally, International Assets Investment Management LLC increased its position in Toast by 1,542.9% in the 4th quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock valued at $1,047,000 after acquiring an additional 53,846 shares during the period. Institutional investors and hedge funds 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.