Insider Selling: Toast (NYSE:TOST) CEO Sells 13,652 Shares of Stock

Key Points

• Aman Narang, the CEO of Toast, Inc. (NYSE: TOST), sold 13,652 shares at an average price of **$35.56**, totaling approximately **$485,465**, resulting in a 4.11% decrease in his ownership.
• Toast, Inc. reported **$1.55 billion in revenue** for the quarter but missed earnings estimates with **$0.13 EPS** compared to the expected **$0.23 EPS**.
• Analysts have a consensus rating of **"Moderate Buy"** for Toast stock, with a target price averaging **$46.30**, while **15 analysts** rate it as a Buy.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 13,652 shares of the business's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $485,465.12. Following the sale, the chief executive officer directly owned 318,150 shares of the company's stock, valued at $11,313,414. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, August 4th, Aman Narang sold 1,719 shares of Toast stock. The stock was sold at an average price of $48.38, for a total value of $83,165.22.

Toast Stock Performance

NYSE:TOST traded up $0.45 on Friday, hitting $36.58. 8,239,534 shares of the stock were exchanged, compared to its average volume of 7,580,688. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 107.60 and a beta of 1.94. The company's 50-day moving average price is $42.57 and its 200 day moving average price is $40.76. Toast, Inc. has a 52 week low of $27.65 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly 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 company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. As a group, equities research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Toast

A number of large investors have recently bought and sold shares of TOST. Wealth Enhancement Advisory Services LLC boosted its position in Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares during the last quarter. GAMMA Investing LLC raised its stake in Toast by 4,500.2% in the 1st quarter. GAMMA Investing LLC now owns 128,069 shares of the company's stock valued at $4,248,000 after acquiring an additional 125,285 shares during the period. Parallel Advisors LLC raised its stake in Toast by 91.2% in the 1st quarter. Parallel Advisors LLC now owns 2,692 shares of the company's stock valued at $89,000 after acquiring an additional 1,284 shares during the period. Rhumbline Advisers raised its stake in Toast by 3.3% in the 1st quarter. Rhumbline Advisers now owns 602,083 shares of the company's stock valued at $19,971,000 after acquiring an additional 19,457 shares during the period. Finally, Merit Financial Group LLC raised its stake in Toast by 23.1% in the 1st quarter. Merit Financial Group LLC now owns 7,892 shares of the company's stock valued at $262,000 after acquiring an additional 1,483 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Toast in a research note on Saturday, September 27th. Citigroup reaffirmed a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price objective on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Robert W. Baird set a $48.00 price objective on Toast in a research report on Monday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.30.

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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