Toast (NYSE:TOST) CEO Sells $50,000.32 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 1,648 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $50,000.32. Following the completion of the sale, the chief executive officer directly owned 340,723 shares of the company’s stock, valued at approximately $10,337,535.82. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, January 5th, Aman Narang sold 8,591 shares of Toast stock. The stock was sold at an average price of $34.38, for a total value of $295,358.58.

Toast Price Performance

NYSE:TOST opened at $27.71 on Friday. The firm has a market cap of $14.27 billion, a price-to-earnings ratio of 64.44 and a beta of 1.93. The firm’s fifty day moving average price is $34.24 and its 200 day moving average price is $37.98. Toast, Inc. has a 1-year low of $26.92 and a 1-year high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

Several hedge funds have recently made changes to their positions in TOST. RiverPark Advisors LLC acquired a new stake in Toast in the 2nd quarter worth about $30,000. Ameritas Advisory Services LLC purchased a new stake in shares of Toast during the 2nd quarter worth about $31,000. Quent Capital LLC purchased a new stake in shares of Toast during the 3rd quarter worth about $27,000. REAP Financial Group LLC raised its holdings in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares during the period. Finally, Alpine Bank Wealth Management acquired a new position in Toast during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TOST. Evercore raised Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Tuesday, January 20th. Wells Fargo & Company raised Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Morgan Stanley raised their price target on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. UBS Group restated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Finally, Truist Financial set a $42.00 target price on shares of Toast in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.55.

Toast Company Profile

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.