Toast (NYSE:TOST) CFO Sells 11,605 Shares

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the sale, the chief financial officer owned 185,150 shares in the company, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 2.5%

TOST stock traded up $0.72 during midday trading on Monday, reaching $29.54. The company had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. The company has a 50 day moving average of $25.64 and a two-hundred day moving average of $28.66. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market capitalization of $15.24 billion, a P/E ratio of 45.45 and a beta of 1.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. DA Davidson dropped their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Piper Sandler assumed coverage on shares of Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 price objective for the company. Loop Capital began coverage on shares of Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target for the company. Finally, Citigroup dropped their price target on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Institutional Investors Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. Bayban acquired a new stake in shares of Toast in the fourth quarter valued at approximately $25,000. SHP Wealth Management acquired a new position in Toast in the 4th quarter valued at about $29,000. Strive Financial Group LLC bought a new stake in shares of Toast during the fourth quarter worth approximately $29,000. Central Pacific Bank Trust Division increased its stake in shares of Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. Finally, Silicon Valley Capital Partners bought a new stake in Toast in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

About Toast

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.