Toast (NYSE:TOST) CEO Sells $295,358.58 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 8,591 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at $11,649,663. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, November 4th, Aman Narang sold 1,732 shares of Toast stock. The shares were sold at an average price of $35.54, for a total value of $61,555.28.

Toast Stock Up 4.6%

TOST traded up $1.60 during trading on Tuesday, hitting $36.10. The company’s stock had a trading volume of 9,837,586 shares, compared to its average volume of 10,598,903. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 83.95 and a beta of 1.93. The firm’s 50 day moving average price is $35.46 and its two-hundred day moving average price is $39.80. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TOST. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial reduced their price objective on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. BNP Paribas upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, December 1st. Royal Bank Of Canada set a $45.00 target price on Toast in a research report on Wednesday, November 5th. Finally, Robert W. Baird cut their price target on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $45.18.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TOST. Baird Financial Group Inc. grew its stake in shares of Toast by 8.3% during the first quarter. Baird Financial Group Inc. now owns 9,408 shares of the company’s stock worth $312,000 after purchasing an additional 720 shares during the period. Royal Bank of Canada boosted its holdings in Toast by 193.2% during the first quarter. Royal Bank of Canada now owns 618,456 shares of the company’s stock worth $20,515,000 after buying an additional 407,518 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Toast during the 1st quarter worth about $3,317,000. Amundi increased its stake in shares of Toast by 137.2% in the 1st quarter. Amundi now owns 1,111,179 shares of the company’s stock valued at $36,291,000 after acquiring an additional 642,792 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Toast by 7.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company’s stock valued at $147,000 after acquiring an additional 301 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.