Toast (NYSE:TOST) CEO Aman Narang Sells 1,732 Shares

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 1,732 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28. Following the sale, the chief executive officer owned 319,939 shares in the company, valued at $11,370,632.06. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Aman Narang also recently made the following trade(s):

• On Thursday, October 2nd, Aman Narang sold 13,652 shares of Toast stock. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12.

Toast Stock Performance

TOST stock opened at $39.03 on Thursday. The company’s 50 day moving average price is $38.66 and its 200 day moving average price is $41.38. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 90.77 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 16.56%. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. Equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. UBS Group decreased their price objective on Toast from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird decreased their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Wolfe Research reissued an “outperform” rating and issued a $48.00 price objective on shares of Toast in a report on Wednesday. Finally, Royal Bank Of Canada set a $45.00 price objective on Toast in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.61.

Institutional Investors Weigh In On Toast

Several hedge funds have recently modified their holdings of TOST. Jennison Associates LLC lifted its holdings in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after purchasing an additional 6,606,245 shares during the period. Norges Bank purchased a new position in Toast in the second quarter worth $219,324,000. Marshall Wace LLP raised its position in Toast by 108.3% in the second quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after acquiring an additional 4,100,104 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in Toast in the first quarter worth $86,650,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.