Insider Selling: Toast, Inc. (NYSE:TOST) CEO Sells 1,719 Shares of Stock

Key Points

• Aman Narang, CEO of Toast, Inc. (NYSE:TOST), sold 1,719 shares at an average price of $48.38, totaling $83,165.22, which decreased his position by 0.56% to 304,300 shares valued at $14,722,034.
• Toast recently reported $0.13 EPS, missing analysts' expectations of $0.23, despite achieving a revenue of $1.55 billion for the quarter.
• Analysts have set new price targets for Toast stock, with estimates ranging from $45.00 to $54.00, following an average rating of "Moderate Buy."

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 1,719 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the transaction, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, July 2nd, Aman Narang sold 13,829 shares of Toast stock. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11.

Toast Stock Down 3.5%

Shares of NYSE TOST traded down $1.68 during midday trading on Wednesday, hitting $46.03. The stock had a trading volume of 21,521,596 shares, compared to its average volume of 8,380,847. The company has a market cap of $22.92 billion, a P/E ratio of 135.38 and a beta of 2.01. The business's 50 day moving average is $44.52 and its 200-day moving average is $39.85. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $49.66.

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

Analysts Set New Price Targets

Several research analysts recently commented on TOST shares. BMO Capital Markets raised their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. 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. JPMorgan Chase & Co. raised their price objective on shares of Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on shares of Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Twelve investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Toast currently has an average rating of "Moderate Buy" and an average target price of $45.54.

Hedge Funds Weigh In On Toast

Several institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new position in Toast during the second quarter valued at $31,000. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter valued at about $34,000. REAP Financial Group LLC raised its holdings in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company's stock valued at $35,000 after purchasing an additional 506 shares in the last quarter. Piscataqua Savings Bank grew its position in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares during the last quarter. Finally, West Branch Capital LLC grew its position in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Company Profile

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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