Toast (NYSE:TOST) General Counsel Sells 6,352 Shares

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 6,352 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 $183,255.20. Following the completion of the transaction, the general counsel owned 196,909 shares of the company’s stock, valued at approximately $5,680,824.65. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 2.5%

Shares of NYSE TOST traded up $0.72 during trading hours on Monday, hitting $29.54. 9,912,000 shares of the company traded hands, compared to its average volume of 12,091,836. The company’s 50 day moving average price is $25.64 and its 200 day moving average price is $28.66. The stock has a market capitalization 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.

Institutional Trading of Toast

Several large investors have recently bought and sold shares of the stock. Bayban purchased a new position in shares of Toast in the fourth quarter worth $25,000. SHP Wealth Management acquired a new position in shares of Toast in the 4th quarter valued at $29,000. Strive Financial Group LLC purchased a new position in Toast in the 4th quarter worth $29,000. Central Pacific Bank Trust Division lifted its position in Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the period. Finally, Silicon Valley Capital Partners acquired a new stake in Toast during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group lowered their price objective 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. Truist Financial dropped their target price on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Oppenheimer reissued an “outperform” rating and set a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Mizuho decreased their target price on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a report on Saturday. Two 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’s stock. According to MarketBeat.com, Toast has an average rating of “Moderate Buy” and a consensus target price of $37.62.

About Toast

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.