Toast (NYSE:TOST) CEO Aman Narang Sells 119,843 Shares

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 119,843 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total transaction of $4,240,045.34. The sale was disclosed in a filing with the SEC, which is available 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 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 stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25.

Toast Trading Down 2.3%

Shares of Toast stock traded down $0.81 during midday trading on Tuesday, reaching $34.88. The company had a trading volume of 6,798,521 shares, compared to its average volume of 11,778,866. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 44.71 and a beta of 1.72. The stock has a fifty day simple moving average of $28.60 and a 200 day simple moving average of $27.88. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $45.64.

Toast (NYSE:TOST) last posted its quarterly earnings data 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). Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the company posted $0.13 EPS. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. Sell-side analysts expect that Toast, Inc. will post 0.99 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Needham & Company LLC raised their target price on shares of Toast from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group set a $40.00 price target on shares of Toast in a research report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.77.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in TOST. BOKF NA increased its holdings in Toast by 4.5% in the third quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Toast by 0.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after buying an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock worth $1,012,000 after buying an additional 380 shares during the last quarter. Seven Mile Advisory grew its position in shares of Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after buying an additional 381 shares during the period. Finally, HM Payson & Co. grew its position in shares of Toast by 6.2% during the 4th quarter. HM Payson & Co. now owns 6,742 shares of the company’s stock worth $239,000 after buying an additional 392 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.