Insider Selling: Toast (NYSE:TOST) General Counsel Sells 4,987 Shares of Stock

Key Points

• Brian Elworthy, General Counsel of Toast, sold 4,987 shares at an average price of $35.56, reducing his ownership by 2.14% to 227,924 shares valued at approximately $8.1 million.
• Toast's stock price increased by 1.3% to $36.58, with a market cap of $18.66 billion and a year-to-date trading range of $27.65 to $49.66.
• Institutional investors currently own 82.91% of Toast's stock, with recent acquisitions reflecting growing interest in the company.

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian Elworthy sold 4,987 shares of Toast stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $177,337.72. Following the completion of the sale, the general counsel owned 227,924 shares in the company, valued at approximately $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Toast Trading Up 1.3%

Toast stock traded up $0.45 during trading hours on Friday, hitting $36.58. 8,239,534 shares of the stock traded hands, compared to its average volume of 7,580,688. Toast, Inc. has a one year low of $27.65 and a one year high of $49.66. The firm's 50-day moving average price is $42.57 and its two-hundred day moving average price is $40.76. The company has a market cap of $18.66 billion, a PE ratio of 107.60 and a beta of 1.94.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the company earned $0.02 EPS. The business's quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

Institutional investors have recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in Toast during the 2nd quarter valued at about $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Toast in the second quarter valued at $31,000. Wayfinding Financial LLC purchased a new position in shares of Toast in the first quarter valued at approximately $34,000. REAP Financial Group LLC boosted its holdings in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company's stock valued at $35,000 after purchasing an additional 506 shares during the period. Finally, Piscataqua Savings Bank grew its position in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Citigroup reaffirmed a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Wall Street Zen cut shares of Toast from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Jefferies Financial Group raised their price objective on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, The Goldman Sachs Group lifted their target price on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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