Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy Sells 300,000 Shares

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Toast Price Performance

Shares of Toast stock traded down $0.15 on Tuesday, hitting $29.37. The company had a trading volume of 3,359,701 shares, compared to its average volume of 7,150,183. The business has a 50-day simple moving average of $26.37 and a 200-day simple moving average of $25.22. The company has a market cap of $13.30 billion, a PE ratio of -58.88 and a beta of 1.76. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $30.70.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share. On average, equities research analysts predict that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Bank of America upped their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Stephens increased their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after buying an additional 421 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after buying an additional 436 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after buying an additional 441 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in Toast by 3.1% during the first quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after buying an additional 500 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Toast by 8.4% during the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after buying an additional 520 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.