Toast (NYSE:TOST) Stock: Insider Brian Elworthy Sells 6,507 Shares

Key Points

• Toast General Counsel Brian Elworthy sold 6,507 shares at an average price of $29.35, generating approximately $190,980. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 204,023 shares.
• Toast shares rose 1.0% to $30.08, while the company reported quarterly revenue of $1.91 billion, up 23.1% year over year, but earnings per share of $0.26 missed analysts’ $0.32 estimate.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $39.12; 82.91% of Toast’s shares are owned by institutional investors and hedge funds.

Toast, Inc. (NYSE:TOST - Get Free Report) General Counsel Brian Elworthy sold 6,507 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $190,980.45. Following the transaction, the general counsel directly owned 204,023 shares of the company's stock, valued at $5,988,075.05. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Trading Up 1.0%

TOST traded up $0.29 during midday trading on Monday, hitting $30.08. 12,414,094 shares of the company were exchanged, compared to its average volume of 11,170,402. The company's 50 day simple moving average is $33.06 and its 200 day simple moving average is $28.96. The firm has a market capitalization of $15.46 billion, a price-to-earnings ratio of 38.56 and a beta of 1.74. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $39.72.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the firm earned $0.13 earnings per share. Toast's revenue for the quarter was up 23.1% compared to the same quarter last year. On average, equities analysts anticipate that Toast, Inc. will post 1 EPS for the current year.

Institutional Trading of Toast

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bayban purchased a new position in shares of Toast during the 4th quarter worth approximately $25,000. SHP Wealth Management purchased a new stake in Toast in the fourth quarter valued at approximately $29,000. Ancora Advisors LLC purchased a new stake in Toast in the second quarter valued at approximately $31,000. Montag A & Associates Inc. lifted its stake in Toast by 172.0% during the first quarter. Montag A & Associates Inc. now owns 1,455 shares of the company's stock worth $39,000 after purchasing an additional 920 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its stake in Toast by 213.6% during the second quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company's stock worth $44,000 after purchasing an additional 1,068 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several research analyst reports. Piper Sandler lifted their target price on shares of Toast from $32.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Evercore restated an "outperform" rating on shares of Toast in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Toast from $36.00 to $44.00 and gave the company a "sector perform" rating in a research note on Monday, August 31st. Citigroup boosted their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.12.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company's products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.

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