Toast (NYSE:TOST) General Counsel Sells $177,337.72 in Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 4,987 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the completion of the sale, the general counsel directly owned 227,924 shares in the company, valued at $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Toast Stock Performance

Shares of TOST opened at $36.58 on Monday. The firm has a fifty day moving average of $42.32 and a 200-day moving average of $40.85. The company has a market cap of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 1 year low of $27.65 and a 1 year high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently bought and sold shares of TOST. IFM Investors Pty Ltd grew its stake in shares of Toast by 29.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after purchasing an additional 18,950 shares during the last quarter. Procyon Advisors LLC bought a new stake in Toast during the first quarter worth approximately $242,000. Charles Schwab Investment Management Inc. grew its position in Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after buying an additional 153,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock worth $829,000 after buying an additional 3,713 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Toast in the first quarter valued at $252,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of recent analyst reports. Needham & Company LLC increased their price objective on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Truist Financial raised their price target on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Robert W. Baird set a $48.00 price objective on shares of Toast in a report on Monday, September 22nd. Canaccord Genuity Group increased their target price on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research report on Friday. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.30.

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.