Toast (NYSE:TOST) CEO Sells 14,365 Shares

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 14,365 shares of Toast stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the transaction, the chief executive officer owned 70,451 shares of the company’s stock, valued at $2,032,511.35. The trade was a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Up 2.5%

Shares of TOST traded up $0.72 during trading hours on Monday, hitting $29.54. The company had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. The business has a fifty day moving average of $25.64 and a 200-day moving average of $28.66. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 45.45 and a beta of 1.74. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TOST shares. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Mizuho reduced their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Zacks Research raised Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Finally, UBS Group reduced their price target on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $37.62.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in TOST. NewEdge Advisors LLC raised its stake in Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after buying an additional 16,379 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp raised its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Toast during the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. boosted its holdings in Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares during the last quarter. Institutional investors 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.