Elena Gomez Sells 9,054 Shares of Toast (NYSE:TOST) Stock

Key Points

• Elena Gomez, CFO of Toast, Inc., sold 9,054 shares of the company at an average price of $35.56, totaling approximately $322,000, reducing her ownership stake by 5.71%.
• Toast's stock has seen a price increase of 1.3% recently, trading at $36.58, with a market capitalization of $18.66 billion and a price-to-earnings ratio of 107.60.
• Analysts have rated Toast stock with a Moderate Buy and set an average price target of $46.30, with several firms projecting price objectives as high as $54.00.

Toast, Inc. (NYSE:TOST - Get Free Report) CFO Elena Gomez sold 9,054 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $321,960.24. Following the sale, the chief financial officer directly owned 149,572 shares in the company, valued at $5,318,780.32. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, August 4th, Elena Gomez sold 2,006 shares of Toast stock. The stock was sold at an average price of $48.38, for a total transaction of $97,050.28.

Toast Trading Up 1.3%

Shares of Toast stock traded up $0.45 during mid-day trading on Friday, hitting $36.58. 8,239,534 shares of the stock were exchanged, compared to its average volume of 7,580,688. Toast, Inc. has a twelve month low of $27.65 and a twelve month high of $49.66. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. The company has a 50-day simple moving average of $42.57 and a 200 day simple moving average of $40.76.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The company's revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. Equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TOST shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a report on Thursday, July 17th. They set a "buy" rating and a $54.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Toast in a report on Wednesday, July 16th. They set a "buy" rating on the stock. Barclays reiterated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Canaccord Genuity Group increased their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Toast currently has an average rating of "Moderate Buy" and an average price target of $46.30.

Institutional Trading of Toast

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Toast by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company's stock valued at $1,966,995,000 after purchasing an additional 466,138 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after purchasing an additional 3,490,686 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Toast by 7.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after purchasing an additional 1,082,958 shares during the period. State Street Corp raised its stake in shares of Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company's stock valued at $408,039,000 after purchasing an additional 245,276 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company's stock valued at $380,978,000 after purchasing an additional 6,606,245 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

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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