Insider Selling: Toast, Inc. (NYSE:TOST) COO Sells 248,509 Shares of Stock

Toast, Inc. (NYSE:TOST) COO Aman Narang sold 248,509 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $20.41, for a total transaction of $5,072,068.69. Following the completion of the transaction, the chief operating officer now directly owns 1,143,549 shares of the company’s stock, valued at $23,339,835.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, August 1st, Aman Narang sold 124,532 shares of Toast stock. The stock was sold at an average price of $21.66, for a total transaction of $2,697,363.12.
• On Thursday, July 13th, Aman Narang sold 105,000 shares of Toast stock. The stock was sold at an average price of $26.05, for a total transaction of $2,735,250.00.
• On Wednesday, July 5th, Aman Narang sold 2,356 shares of Toast stock. The shares were sold at an average price of $22.20, for a total transaction of $52,303.20.

Toast Stock Down 0.3 %

NYSE:TOST traded down $0.06 during trading hours on Tuesday, hitting $20.33. 6,310,251 shares of the company traded hands, compared to its average volume of 6,820,067. The firm’s 50-day simple moving average is $22.14 and its 200-day simple moving average is $20.45. Toast, Inc. has a one year low of $15.77 and a one year high of $27.00. The company has a market cap of $10.89 billion, a PE ratio of -27.86 and a beta of 1.71.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $978.00 million during the quarter, compared to analysts’ expectations of $943.06 million. Toast had a negative return on equity of 34.23% and a negative net margin of 11.33%. The company’s revenue was up 44.9% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. As a group, equities research analysts expect that Toast, Inc. will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

TOST has been the subject of several research analyst reports. Bank of America started coverage on shares of Toast in a research report on Thursday, June 1st. They issued a “buy” rating for the company. Needham & Company LLC boosted their target price on shares of Toast from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Toast from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 22nd. Stephens boosted their target price on shares of Toast from $22.00 to $25.00 in a report on Wednesday, August 9th. Finally, Piper Sandler restated an “overweight” rating and set a $27.00 price target on shares of Toast in a report on Tuesday, September 5th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.22.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. grew its stake in Toast by 365.0% in the first quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock worth $29,000 after purchasing an additional 1,303 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Toast in the second quarter worth $29,000. PNC Financial Services Group Inc. lifted its holdings in shares of Toast by 277.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after purchasing an additional 1,257 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Toast during the second quarter valued at $38,000. Finally, Spire Wealth Management lifted its holdings in shares of Toast by 2,196.0% during the first quarter. Spire Wealth Management now owns 2,296 shares of the company’s stock valued at $41,000 after purchasing an additional 2,196 shares in the last quarter. Institutional investors own 60.29% of the company’s stock.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.