Aman Narang Sells 42,105 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 42,105 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $35.13, for a total value of $1,479,148.65. Following the completion of the sale, the chief executive officer directly owned 119,843 shares of the company’s stock, valued at $4,210,084.59. This represents a 26.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 10th, Aman Narang sold 119,843 shares of Toast stock. The shares were sold at an average price of $35.38, for a total value of $4,240,045.34.
• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The shares were sold at an average price of $35.02, for a total value of $473,120.20.
• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The stock was sold at an average price of $35.29, for a total value of $4,395,087.18.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The stock was sold at an average price of $28.85, for a total value of $414,430.25.

Toast Stock Down 2.3%

TOST stock traded down $0.81 during midday trading on Tuesday, hitting $34.88. 6,798,521 shares of the company traded hands, compared to its average volume of 11,778,866. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $45.64. The business has a 50 day simple moving average of $28.60 and a 200-day simple moving average of $27.88. The stock has a market capitalization of $17.93 billion, a price-to-earnings ratio of 44.71 and a beta of 1.72.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.Toast’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Toast, Inc. will post 0.99 EPS for the current year.

Institutional Trading of Toast

Hedge funds have recently modified their holdings of the company. Bayban acquired a new stake in shares of Toast during the 4th quarter worth approximately $25,000. SHP Wealth Management acquired a new position in shares of Toast in the fourth quarter valued at $29,000. Strive Financial Group LLC bought a new position in Toast in the fourth quarter worth $29,000. Silicon Valley Capital Partners bought a new position in Toast in the fourth quarter worth $36,000. Finally, Quadrant Capital Group LLC boosted its stake in Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TOST shares. Jefferies Financial Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Needham & Company LLC boosted their price objective on Toast from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn restated a “neutral” rating and set a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. Finally, Truist Financial raised their target price on Toast from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 24th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average target price of $38.77.

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.