Elena Gomez Sells 2,006 Shares of Toast, Inc. (NYSE:TOST) Stock

Key Points

• Elena Gomez, CFO of Toast, Inc., sold 2,006 shares at an average price of $48.38, totaling approximately $97,050, which resulted in a 1.40% decrease in her ownership.
• Toast's stock dropped 3.5%, trading at $46.03 per share, while recent earnings report showed a miss on EPS expectations, reporting $0.13 compared to the consensus of $0.23.
• Brokerages like Morgan Stanley and Truist Financial have increased their price targets on Toast stock, reflecting a generally positive outlook with a consensus rating of "Moderate Buy."

Toast, Inc. (NYSE:TOST - Get Free Report) CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $97,050.28. Following the transaction, the chief financial officer owned 141,263 shares of the company's stock, valued at $6,834,303.94. This represents a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Elena Gomez also recently made the following trade(s):

• On Wednesday, July 2nd, Elena Gomez sold 34,170 shares of Toast stock. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20.

Toast Stock Down 3.5%

Toast stock traded down $1.68 during mid-day trading on Wednesday, hitting $46.03. 21,521,596 shares of the stock were exchanged, compared to its average volume of 8,380,847. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $49.66. The firm's fifty day simple moving average is $44.52 and its two-hundred day simple moving average is $39.85. The stock has a market capitalization of $22.92 billion, a price-to-earnings ratio of 135.38 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.81%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. As a group, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on TOST. Morgan Stanley increased their price target on Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday. Truist Financial increased their target price on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Institutional Investors Weigh In On Toast

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Toast by 3.5% during the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock worth $1,457,675,000 after acquiring an additional 1,471,352 shares in the last quarter. Capital International Investors grew its position in Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the last quarter. FMR LLC lifted its holdings in Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after acquiring an additional 3,490,686 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock worth $514,811,000 after purchasing an additional 1,082,958 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

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.

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