Aman Narang Sells 13,510 Shares of Toast (NYSE:TOST) Stock

Key Points

• Toast CEO Aman Narang sold 13,510 shares at an average price of $35.02, generating $473,120.20. The Rule 10b5-1 transaction reduced his ownership by 7.7% to 161,948 shares; he also sold 124,542 shares the previous day.
• Toast shares fell 0.7% to $34.47, while the company reported quarterly revenue of $1.91 billion, up 23.1% year over year and above estimates, but EPS of $0.26 missed expectations of $0.32.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $38.62; Bernstein, UBS, and Wells Fargo recently raised their targets.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 13,510 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $35.02, for a total transaction of $473,120.20. Following the completion of the transaction, the chief executive officer owned 161,948 shares in the company, valued at approximately $5,671,418.96. This trade represents a 7.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 stock was sold at an average price of $28.85, for a total transaction of $414,430.25.

Toast Trading Down 0.7%

Shares of NYSE:TOST traded down $0.26 during trading on Friday, reaching $34.47. The company had a trading volume of 10,398,928 shares, compared to its average volume of 11,830,787. The company has a fifty day moving average of $28.28 and a two-hundred day moving average of $27.85. The stock has a market capitalization of $17.78 billion, a P/E ratio of 44.19 and a beta of 1.72. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $46.11.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The business's revenue was up 23.1% on a year-over-year basis. As a group, equities research analysts predict that Toast, Inc. will post 0.97 earnings per share for the current year.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BOKF NA lifted its holdings in shares of Toast by 4.5% during the third quarter. BOKF NA now owns 8,023 shares of the company's stock worth $293,000 after purchasing an additional 345 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Toast by 0.5% in the 1st 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 period. The Manufacturers Life Insurance Company increased its holdings in Toast by 1.7% in the 2nd 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 period. Seven Mile Advisory raised its position in 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 last quarter. Finally, HM Payson & Co. lifted its stake in Toast by 6.2% during the 4th quarter. HM Payson & Co. now owns 6,742 shares of the company's stock valued at $239,000 after acquiring an additional 392 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TOST has been the subject of a number of research reports. Sanford C. Bernstein upped their price objective on Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday. UBS Group boosted their target price on Toast from $34.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday. Jefferies Financial Group set a $40.00 target price on Toast in a research note on Wednesday. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Toast from $36.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and an average target price of $38.62.

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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