Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 653 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Toast Trading Down 1.8 %

Toast stock opened at $41.21 on Friday. The business’s 50 day simple moving average is $38.43 and its 200 day simple moving average is $32.31. Toast, Inc. has a 12 month low of $18.47 and a 12 month high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. During the same quarter in the prior year, the firm earned ($0.09) EPS. Sell-side analysts expect that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TOST. The Goldman Sachs Group dropped their price objective on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Stephens upped their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Toast has an average rating of “Hold” and an average price target of $36.09.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. The Manufacturers Life Insurance Company boosted its position in Toast by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 97,883 shares of the company’s stock worth $2,522,000 after purchasing an additional 8,186 shares during the period. Truist Financial Corp purchased a new stake in shares of Toast during the 2nd quarter valued at approximately $618,000. Atomi Financial Group Inc. bought a new position in Toast in the 3rd quarter worth approximately $330,000. Trevian Wealth Management LLC purchased a new position in Toast in the 3rd quarter valued at approximately $1,398,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Toast during the 3rd quarter valued at $82,000. 82.91% of the stock is currently owned by institutional investors.

Toast Company Profile

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.