Toast (NYSE:TOST) General Counsel Brian Elworthy Sells 3,664 Shares

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 3,664 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the transaction, the general counsel owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Toast Stock Down 0.1%

TOST stock traded down $0.03 during mid-day trading on Friday, hitting $26.44. The company had a trading volume of 9,600,162 shares, compared to its average volume of 10,888,302. The company has a 50-day moving average price of $28.25 and a 200 day moving average price of $33.41. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66. The company has a market capitalization of $13.86 billion, a price-to-earnings ratio of 48.97 and a beta of 1.90.

Toast (NYSE:TOST) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. As a group, analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its board has approved a share buyback program on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TOST shares. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Truist Financial set a $36.00 price objective on shares of Toast in a report on Wednesday, February 25th. UBS Group set a $40.00 price target on shares of Toast in a report on Friday, February 13th. Needham & Company LLC reduced their price objective on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. upgraded shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a research note on Thursday, December 4th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.88.

Hedge Funds Weigh In On Toast

Several institutional investors have recently modified their holdings of the business. Cim LLC raised its holdings in Toast by 0.7% in the second quarter. Cim LLC now owns 38,302 shares of the company’s stock valued at $1,696,000 after acquiring an additional 273 shares in the last quarter. Wynn Capital LLC grew its holdings in shares of Toast by 2.1% during the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after purchasing an additional 280 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Toast by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after buying an additional 294 shares during the period. Trinity Financial Advisors LLC lifted its stake in Toast by 2.5% in the third quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company’s stock valued at $442,000 after buying an additional 296 shares during the last quarter. Finally, Purus Wealth Management LLC lifted its stake in Toast by 5.8% in the third quarter. Purus Wealth Management LLC now owns 6,002 shares of the company’s stock valued at $219,000 after buying an additional 330 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast News Roundup

Here are the key news stories impacting Toast this week:

• Neutral Sentiment: Loop Capital initiated coverage of Toast with a “Hold” rating, which removes an immediate buy catalyst and may cap near‑term upside until clearer growth/profitability signals arrive. Loop Capital coverage
• Neutral Sentiment: Toast has been heavily searched by investors (Zacks spotlight), which can increase short‑term volume and volatility but doesn’t itself change fundamentals. Zacks: Investors Heavily Search
• Negative Sentiment: Multiple senior executives sold stock on April 2 (CEO Aman Narang, CFO Elena Gomez, President Stephen Fredette, General Counsel Brian Elworthy, and CRO Jonathan Vassil), collectively disposing of roughly $1.04M of shares at about $26.19 each. The CEO’s sale reduced his holding by ~19.95%; other insiders also trimmed positions. Clustered sales by top management can be perceived negatively by the market (signaling liquidity needs or reduced insider confidence), even if they stem from routine vesting/diversification; filings are available with the SEC. CEO SEC filing

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.