Aman Narang Sells 13,463 Shares of Toast (NYSE:TOST) Stock

Key Points

• Aman Narang, Toast's CEO, sold 13,463 shares on April 2 at an average price of $26.19 for $352,595.97, cutting his stake by about 19.95% to 54,013 shares; he also sold shares on Jan. 5 and Feb. 3, bringing his YTD sales to roughly 23,702 shares.
• Toast reported Q results with EPS $0.16 (missed the $0.24 estimate) while revenue rose 22% to $1.63 billion; the stock trades near $26.44, has ~82.9% institutional ownership, and carries a consensus "Moderate Buy" target of $39.88.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 13,463 shares of Toast stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the completion of the sale, the chief executive officer owned 54,013 shares of the company's stock, valued at approximately $1,414,600.47. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 3rd, Aman Narang sold 1,648 shares of Toast stock. The shares were sold at an average price of $30.34, for a total transaction of $50,000.32.
• On Monday, January 5th, Aman Narang sold 8,591 shares of Toast stock. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58.

Toast Trading Down 0.1%

Shares of NYSE:TOST traded down $0.03 during trading on Friday, hitting $26.44. 9,600,162 shares of the company's stock were exchanged, compared to its average volume of 10,888,302. The firm has a market cap of $13.86 billion, a P/E ratio of 48.97 and a beta of 1.90. The firm has a 50-day moving average price of $28.25 and a two-hundred day moving average price of $33.41. Toast, Inc. has a 1-year low of $24.35 and a 1-year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company's quarterly revenue was up 22.0% on a year-over-year basis. As a group, research analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Trading of Toast

Several hedge funds have recently added to or reduced their stakes in TOST. NewEdge Advisors LLC grew its stake in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company's stock valued at $578,000 after acquiring an additional 16,379 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Toast by 22.3% during the 2nd quarter. Prudential Financial Inc. now owns 47,250 shares of the company's stock valued at $2,021,000 after purchasing an additional 8,616 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Toast by 17.0% during the 2nd quarter. Hsbc Holdings PLC now owns 208,063 shares of the company's stock valued at $9,222,000 after purchasing an additional 30,266 shares in the last quarter. M&T Bank Corp grew its position in shares of Toast by 14.2% in the 2nd quarter. M&T Bank Corp now owns 43,856 shares of the company's stock valued at $1,942,000 after purchasing an additional 5,457 shares during the period. Finally, Invesco Ltd. grew its position in shares of Toast by 25.6% in the 2nd quarter. Invesco Ltd. now owns 3,328,812 shares of the company's stock valued at $147,433,000 after purchasing an additional 678,971 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TOST. UBS Group set a $40.00 price objective on Toast in a research note on Friday, February 13th. Wells Fargo & Company cut their target price on Toast from $47.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 target price on Toast in a report on Monday, February 16th. The Goldman Sachs Group decreased their target price on Toast from $43.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, February 17th. Finally, Needham & Company LLC cut their price target on shares of Toast from $60.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

About Toast

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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