Toast (NYSE:TOST) CEO Sells $4,240,045.34 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 119,843 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 7th, Aman Narang sold 42,105 shares of Toast stock. The stock was sold at an average price of $35.13, for a total transaction of $1,479,148.65.
• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The shares were sold at an average price of $35.02, for a total transaction of $473,120.20.
• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25.

Toast Trading Up 3.3%

Shares of TOST opened at $35.20 on Friday. The firm’s fifty day simple moving average is $29.15 and its two-hundred day simple moving average is $27.90. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $45.64. The stock has a market capitalization of $18.09 billion, a P/E ratio of 45.12 and a beta of 1.72.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted $0.13 earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. As a group, research analysts predict that Toast, Inc. will post 1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 target price on shares of Toast in a research report on Tuesday, May 12th. Oppenheimer increased their target price on shares of Toast from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $40.00 price target on shares of Toast in a research note on Wednesday, August 5th. Finally, Robert W. Baird upped their price objective on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC increased its position in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after acquiring an additional 157,394 shares in the last quarter. Morgan Stanley lifted its position in Toast by 6.7% in the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after acquiring an additional 653,487 shares in the last quarter. State Street Corp lifted its position in Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after acquiring an additional 282,282 shares in the last quarter. XN LP boosted its stake in Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after purchasing an additional 3,029,856 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after purchasing an additional 169,230 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.