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

Key Points

• CEO Aman Narang sold 119,843 Toast shares for approximately $4.24 million at an average price of $35.38 under a pre-arranged Rule 10b5-1 trading plan. He also sold additional shares in several recent transactions.
• Toast shares fell 2.3% to $34.88, while the company reported quarterly revenue of $1.91 billion, up 23.1% year over year, but earnings per share of $0.26 missed analysts’ $0.32 estimate.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $38.77; institutional investors own 82.91% of Toast’s stock.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 119,843 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.38, for a total transaction of $4,240,045.34. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were 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%

TOST stock traded down $0.81 during trading on Tuesday, reaching $34.88. 6,798,521 shares of the stock were exchanged, 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 company has a market capitalization of $17.93 billion, a P/E ratio of 44.71 and a beta of 1.72. The stock has a 50 day simple moving average of $28.60 and a 200-day simple moving average of $27.88.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate 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 net margin of 7.14% and a return on equity of 23.90%. The company's revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Equities analysts predict that Toast, Inc. will post 0.99 EPS for the current year.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. Capelight Capital Asset Management LP acquired a new stake in Toast during the 4th quarter valued at $2,131,000. Robeco Institutional Asset Management B.V. boosted its stake in Toast by 6.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company's stock worth $34,524,000 after purchasing an additional 57,512 shares in the last quarter. Lecap Asset Management Ltd. boosted its stake in Toast by 206.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company's stock worth $2,099,000 after purchasing an additional 39,847 shares in the last quarter. Campbell Capital Management Inc. bought a new stake in shares of Toast during the fourth quarter worth $9,812,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Toast by 11.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 514,992 shares of the company's stock worth $18,287,000 after purchasing an additional 52,959 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

TOST has been the topic of a number of analyst reports. Morgan Stanley set a $45.00 target price on shares of Toast in a research note on Friday, May 8th. Zacks Research downgraded Toast from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. BMO Capital Markets upped their price objective on Toast from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised Toast from a "neutral" rating to a "buy" rating and set a $36.00 target price for the company in a report on Thursday, July 9th. Finally, Rothschild & Co Redburn restated a "neutral" rating and set a $35.00 target price on shares of Toast in a research report on Tuesday, May 12th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average 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.

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