Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 300,000 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the sale, the general counsel now owns 216,156 shares of the company’s stock, valued at $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Toast Stock Up 2.4%

Toast stock opened at $42.83 on Friday. The company has a market cap of $21.33 billion, a price-to-earnings ratio of -4,278.42, a PEG ratio of 2.16 and a beta of 2.02. The firm’s fifty day moving average is $37.77 and its 200 day moving average is $38.04. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $45.56.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on shares of Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Truist Financial initiated coverage on shares of Toast in a research report on Monday. They issued a “buy” rating and a $48.00 price target for the company. The Goldman Sachs Group dropped their price target on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, UBS Group upped their price target on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.21.

Institutional Investors Weigh In On Toast

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Toast during the fourth quarter valued at $34,000. Wayfinding Financial LLC purchased a new stake in Toast during the first quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast during the fourth quarter valued at $35,000. Finally, Piscataqua Savings Bank raised its stake in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.