Toast (NYSE:TOST) CEO Aman Narang Sells 14,713 Shares of Company Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 14,713 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $431,826.55. Following the completion of the transaction, the chief executive officer owned 86,543 shares of the company’s stock, valued at approximately $2,540,037.05. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 10th, Aman Narang sold 119,843 shares of Toast stock. The stock was sold at an average price of $35.38, for a total value of $4,240,045.34.
• On Friday, August 7th, Aman Narang sold 42,105 shares of Toast stock. The stock was sold at an average price of $35.13, for a total transaction of $1,479,148.65.
• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The stock was sold at an average price of $35.02, for a total transaction of $473,120.20.
• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The shares were sold at an average price of $35.29, for a total transaction of $4,395,087.18.

Toast Trading Up 1.0%

Shares of TOST stock traded up $0.29 during trading hours on Monday, hitting $30.08. The company’s stock had a trading volume of 12,414,094 shares, compared to its average volume of 11,170,402. The stock has a market cap of $15.46 billion, a PE ratio of 38.56 and a beta of 1.74. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $39.72. The company has a 50 day moving average of $33.06 and a 200 day moving average of $28.96.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the business earned $0.13 EPS. As a group, analysts anticipate that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Toast

A number of large investors have recently added to or reduced their stakes in TOST. Bayban acquired a new stake in shares of Toast in the fourth quarter valued at about $25,000. SHP Wealth Management acquired a new position in shares of Toast during the 4th quarter worth about $29,000. Ancora Advisors LLC acquired a new position in shares of Toast during the 2nd quarter worth about $31,000. Montag A & Associates Inc. lifted its stake in Toast by 172.0% in the 1st quarter. Montag A & Associates Inc. now owns 1,455 shares of the company’s stock valued at $39,000 after buying an additional 920 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its holdings in Toast by 213.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock worth $44,000 after buying an additional 1,068 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TOST shares. Needham & Company LLC upped their target price on Toast from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Jefferies Financial Group set a $40.00 price target on Toast in a report on Wednesday, August 5th. Sanford C. Bernstein upped their price objective on Toast from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Citigroup lifted their target price on shares of Toast from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Barclays boosted their target price on shares of Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.12.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.