Toast (NYSE:TOST) CEO Sells $485,465.12 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 13,652 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $485,465.12. Following the completion of the transaction, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, August 4th, Aman Narang sold 1,719 shares of Toast stock. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22.

Toast Trading Up 1.3%

Toast stock opened at $36.58 on Friday. The company has a market capitalization of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 12 month low of $27.65 and a 12 month high of $49.66. The stock’s 50 day moving average is $42.32 and its 200-day moving average is $40.82.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on TOST shares. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Barclays reaffirmed an “overweight” rating on shares of Toast in a report on Wednesday, July 16th. Wells Fargo & Company started coverage on Toast in a research note on Wednesday, July 16th. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on Toast in a research report on Thursday, July 17th. They set a “buy” rating and a $54.00 price target on the stock. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Toast by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock valued at $1,966,995,000 after purchasing an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after buying an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Toast by 7.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock worth $514,811,000 after buying an additional 1,082,958 shares during the last quarter. State Street Corp boosted its stake in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after buying an additional 245,276 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Toast by 331.0% in the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after acquiring an additional 6,606,245 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.