Toast (NYSE:TOST) General Counsel Sells 6,507 Shares of Company Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 6,507 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $190,980.45. Following the completion of the transaction, the general counsel directly owned 204,023 shares of the company’s stock, valued at approximately $5,988,075.05. The trade was a 3.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 1.0%

NYSE:TOST traded up $0.29 during mid-day trading on Monday, hitting $30.08. The stock had a trading volume of 12,414,094 shares, compared to its average volume of 11,170,402. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $39.72. The stock has a 50-day simple moving average of $33.06 and a two-hundred day simple moving average of $28.96. The company has a market capitalization of $15.46 billion, a PE ratio of 38.56 and a beta of 1.74.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TOST. Oppenheimer increased their target price on Toast from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. BMO Capital Markets upped their target price on shares of Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, July 9th. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Evercore restated an “outperform” rating on shares of Toast in a report on Wednesday, August 5th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.12.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hickory Point Bank & Trust boosted its position in Toast by 10.0% during the third quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock worth $159,000 after acquiring an additional 500 shares during the last quarter. Talon Private Wealth LLC acquired a new position in Toast in the 2nd quarter valued at $837,000. Junto Capital Management LP purchased a new position in shares of Toast during the 2nd quarter worth $54,320,000. Tidal Investments LLC boosted its holdings in shares of Toast by 31.9% during the second quarter. Tidal Investments LLC now owns 18,071 shares of the company’s stock worth $503,000 after purchasing an additional 4,372 shares during the last quarter. Finally, Scholtz & Company LLC purchased a new stake in shares of Toast in the second quarter valued at $2,321,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Toast

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.