Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy Sells 5,681 Shares

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian R. Elworthy sold 5,681 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $241,953.79. Following the sale, the general counsel owned 221,767 shares in the company, valued at approximately $9,445,056.53. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Toast Price Performance

Toast stock traded down $1.30 during trading hours on Tuesday, reaching $43.53. The company had a trading volume of 13,194,393 shares, compared to its average volume of 6,788,672. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $46.53. The company has a 50-day moving average price of $41.91 and a 200 day moving average price of $38.45. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 189.26 and a beta of 2.00.

Wall Street Analysts Forecast Growth

TOST has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Truist Financial initiated coverage on Toast in a research note on Monday, June 2nd. They set a "buy" rating and a $48.00 price objective for the company. Morgan Stanley upped their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Piper Sandler upped their price objective 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. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TOST. Charles Schwab Investment Management Inc. boosted its position in Toast by 5.6% during 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. Procyon Advisors LLC bought a new position in shares of Toast during the first quarter valued at about $242,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after purchasing an additional 3,713 shares during the period. Yorktown Management & Research Co Inc bought a new stake in shares of Toast in the first quarter worth about $252,000. Finally, Jupiter Asset Management Ltd. increased its holdings in Toast by 134.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after purchasing an additional 225,215 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.