Brian R. Elworthy Sells 1,051 Shares of Toast, Inc. (NYSE:TOST) Stock

Key Points

• General Counsel Brian R. Elworthy of Toast, Inc. sold 1,051 shares at an average price of $48.38, decreasing his ownership stake by 0.47% to 222,868 shares.
• Toast's stock price was down to $46.03, with a significant trading volume of over 21 million shares compared to its average volume of 8.3 million.
• The company reported earnings of $0.13 per share, missing estimates by $0.10, but revenue rose 24.8% year-over-year to $1.55 billion.

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian R. Elworthy sold 1,051 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $50,847.38. Following the sale, the general counsel owned 222,868 shares in the company, valued at $10,782,353.84. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Toast Price Performance

NYSE:TOST traded down $2.48 on Friday, reaching $43.13. The stock had a trading volume of 9,038,301 shares, compared to its average volume of 9,326,806. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 126.85 and a beta of 2.01. The firm's fifty day moving average is $44.68 and its two-hundred day moving average is $39.98. Toast, Inc. has a 12-month low of $22.91 and a 12-month high of $49.66.

Toast (NYSE:TOST - Get Free Report) last released its earnings results 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). Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter last year, the company posted $0.02 earnings per share. Toast's revenue for the quarter was up 24.8% on a year-over-year basis. As a group, research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board acquired a new position in shares of Toast during the 2nd quarter valued at about $316,000. Intech Investment Management LLC increased its stake in shares of Toast by 11.5% during the 2nd quarter. Intech Investment Management LLC now owns 458,261 shares of the company's stock valued at $20,296,000 after acquiring an additional 47,220 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Toast by 40.5% during the 2nd quarter. Cetera Investment Advisers now owns 91,295 shares of the company's stock valued at $4,043,000 after acquiring an additional 26,300 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Toast by 69.6% during the 2nd quarter. SG Americas Securities LLC now owns 44,826 shares of the company's stock valued at $1,985,000 after acquiring an additional 18,401 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Toast during the 2nd quarter valued at about $45,896,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the topic of several research analyst reports. Piper Sandler boosted 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. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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.