Toast, Inc. (NYSE:TOST) General Counsel Sells $241,953.79 in Stock

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian R. Elworthy sold 5,681 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $241,953.79. Following the completion of the transaction, the general counsel owned 221,767 shares in the company, valued at approximately $9,445,056.53. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Toast Trading Down 0.7%

TOST stock traded down $0.33 during midday trading on Thursday, reaching $44.31. The stock had a trading volume of 5,496,997 shares, compared to its average volume of 6,799,265. The company's fifty day simple moving average is $42.24 and its 200 day simple moving average is $38.53. The company has a market cap of $22.07 billion, a price-to-earnings ratio of 192.67 and a beta of 2.00. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $46.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TOST shares. The Goldman Sachs Group dropped their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. 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 research note on Monday, May 12th. Morgan Stanley increased their target price on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Wall Street Zen cut shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Toast presently has a consensus rating of "Hold" and a consensus target price of $41.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Toast by 5.1% during the 4th quarter. US Bancorp DE now owns 41,765 shares of the company's stock worth $1,522,000 after acquiring an additional 2,022 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Toast by 139.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,609 shares of the company's stock worth $132,000 after acquiring an additional 2,103 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Toast during the 4th quarter worth $35,000. Charles Schwab Investment Management Inc. raised its holdings in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after buying an additional 155,446 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Toast by 139.3% in the 4th quarter. Victory Capital Management Inc. now owns 118,839 shares of the company's stock valued at $4,332,000 after buying an additional 69,176 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.