Insider Selling: Toast (NYSE:TOST) CFO Sells 11,605 Shares of Stock

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

Toast Stock Up 2.5%

Shares of TOST stock traded up $0.72 during trading hours on Monday, reaching $29.54. The company’s stock had a trading volume of 9,912,000 shares, compared to its average volume of 12,091,836. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 45.45 and a beta of 1.74. The firm’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $28.66.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after acquiring an additional 7,891,383 shares in the last quarter. Norges Bank bought a new stake in shares of Toast in the 4th quarter worth approximately $202,808,000. ValueAct Holdings L.P. lifted its stake in Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the last quarter. Capital International Investors increased its position in Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after buying an additional 3,351,545 shares during the last quarter. Finally, XN LP lifted its position in shares of Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after buying an additional 3,029,856 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. UBS Group cut their target price on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. DA Davidson dropped their price target on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Mizuho cut their target price on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Finally, Truist Financial dropped their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.62.

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.