Insider Selling: Toast (NYSE:TOST) CEO Sells 14,713 Shares of Stock

Key Points

• Toast CEO Aman Narang sold 14,713 shares at an average price of $29.35, generating $431,826.55. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 14.53%.
• Toast shares recently traded at $30.08, with a market capitalization of approximately $15.46 billion. The stock has ranged from $22.26 to $39.72 over the past year.
• Analysts maintain a “Moderate Buy” consensus on Toast, with 16 Buy ratings and 11 Holds and an average price target of $39.12, despite the company’s latest quarterly earnings missing estimates.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 14,713 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $431,826.55. Following the completion of the sale, the chief executive officer owned 86,543 shares of the company's stock, valued at $2,540,037.05. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 10th, Aman Narang sold 119,843 shares of Toast stock. The shares were sold at an average price of $35.38, for a total value of $4,240,045.34.
• On Friday, August 7th, Aman Narang sold 42,105 shares of Toast stock. The shares were sold at an average price of $35.13, for a total value 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 stock was sold at an average price of $35.29, for a total transaction of $4,395,087.18.

Toast Price Performance

NYSE TOST traded up $0.29 during trading on Monday, reaching $30.08. 12,414,094 shares of the company's stock traded hands, compared to its average volume of 11,170,402. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $39.72. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 38.56 and a beta of 1.74. The company's 50 day simple moving average is $33.06 and its two-hundred day simple moving average is $28.96.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the previous year, the company posted $0.13 EPS. Toast's revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts expect that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TOST shares. DA Davidson upped their target price on Toast from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price target on Toast from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Sanford C. Bernstein upped their price objective on Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Oppenheimer raised their price objective on Toast from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, BNP Paribas Exane lowered Toast from an "outperform" rating to a "neutral" rating and cut their target price for the company from $38.00 to $35.00 in a research note on Wednesday, September 2nd. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.12.

Institutional Trading of Toast

A number of institutional investors have recently made changes to their positions in the business. Bayban purchased a new stake in shares of Toast during the fourth quarter worth about $25,000. SHP Wealth Management purchased a new position in shares of Toast in the fourth quarter worth $29,000. Ancora Advisors LLC purchased a new stake in shares of Toast during the second quarter valued at $31,000. Montag A & Associates Inc. grew its holdings in shares of Toast by 172.0% during the first quarter. Montag A & Associates Inc. now owns 1,455 shares of the company's stock valued at $39,000 after buying an additional 920 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Toast by 213.6% in the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company's stock valued at $44,000 after acquiring an additional 1,068 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company's products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.