James Michael Matlock Sells 914 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) insider James Michael Matlock sold 914 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $20.24, for a total transaction of $18,499.36. Following the sale, the insider now owns 29,576 shares in the company, valued at $598,618.24. The sale was disclosed in a filing with the SEC, which is available at this link.

James Michael Matlock also recently made the following trade(s):

• On Monday, July 17th, James Michael Matlock sold 758 shares of Toast stock. The shares were sold at an average price of $25.81, for a total transaction of $19,563.98.

Toast Stock Performance

TOST traded down $0.06 during midday trading on Tuesday, hitting $20.33. The stock had a trading volume of 6,310,904 shares, compared to its average volume of 6,820,071. Toast, Inc. has a 1 year low of $15.77 and a 1 year high of $27.00. The business has a fifty day moving average of $22.14 and a 200 day moving average of $20.45. The company has a market cap of $10.89 billion, a P/E 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 analysts’ consensus estimates of ($0.14) by ($0.05). Toast had a negative return on equity of 34.23% and a negative net margin of 11.33%. The business had revenue of $978.00 million during the quarter, compared to the consensus estimate of $943.06 million. The company’s revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, equities research analysts anticipate that Toast, Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in Toast by 115.4% during the 1st quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock valued at $542,000 after acquiring an additional 13,364 shares during the period. HighTower Advisors LLC increased its stake in shares of Toast by 78.2% in the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock worth $616,000 after buying an additional 12,446 shares during the period. Citigroup Inc. bought a new stake in Toast during the 1st quarter valued at $438,000. Ergoteles LLC purchased a new stake in Toast during the 1st quarter valued at $2,427,000. Finally, First Trust Advisors LP purchased a new position in shares of Toast in the first quarter valued at about $33,356,000. 60.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TOST. Jefferies Financial Group began coverage on Toast in a research report on Tuesday, July 11th. They issued a “buy” rating and a $28.00 price target for the company. UBS Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and raised their price objective for the company from $25.00 to $30.00 in a research report on Wednesday, September 6th. BTIG Research started coverage on shares of Toast in a report on Thursday, June 15th. They set a “neutral” rating on the stock. Stephens raised their price target on shares of Toast from $22.00 to $25.00 in a report on Wednesday, August 9th. Finally, DA Davidson upped their price target on shares of Toast from $25.00 to $27.00 in a report on Friday, August 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.22.

About Toast

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.