Insider Selling: Toast, Inc. (NYSE:TOST) General Counsel Sells 1,051 Shares of 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 firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $50,847.38. Following the transaction, the general counsel owned 222,868 shares of the company's stock, valued at approximately $10,782,353.84. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Toast Stock Performance

Shares of TOST traded down $1.68 during trading hours on Wednesday, reaching $46.03. 21,521,596 shares of the company traded hands, compared to its average volume of 8,380,847. The stock's fifty day moving average is $44.52 and its 200 day moving average is $39.85. The stock has a market cap of $22.92 billion, a P/E ratio of 135.38 and a beta of 2.01. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $49.66.

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

Institutional Trading of Toast

Hedge funds have recently modified their holdings of the stock. Orion Portfolio Solutions LLC acquired a new stake in Toast in the fourth quarter worth $208,000. Schroder Investment Management Group acquired a new stake in shares of Toast during the fourth quarter worth $941,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Toast by 81.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 23,049 shares of the company's stock worth $840,000 after acquiring an additional 10,380 shares during the period. National Bank of Canada FI acquired a new stake in shares of Toast during the fourth quarter worth $2,569,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Toast during the fourth quarter worth $2,600,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TOST shares. Jefferies Financial Group raised their price target on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday. DA Davidson boosted their target price on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Toast has an average rating of "Moderate Buy" and an average target price 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.

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