Toast (NYSE:TOST) Stock: Insider Elena Gomez Sells 11,886 Shares

Key Points

• CFO Elena Gomez sold 11,886 Toast shares at an average price of $29.35, generating $348,854.10. The sale reduced her holdings by 6.47% and was made to cover tax withholding tied to vested equity awards.
• Toast shares rose 1.0% to $30.08, while the company’s latest quarterly revenue of $1.91 billion exceeded estimates, though adjusted EPS of $0.26 fell short of the $0.32 consensus.
• Wall Street maintains a “Moderate Buy” consensus, with 16 analysts rating the stock a Buy and 11 a Hold; the average price target is $39.12.

Toast, Inc. (NYSE:TOST - Get Free Report) CFO Elena Gomez sold 11,886 shares of Toast stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $348,854.10. Following the sale, the chief financial officer owned 171,957 shares of the company's stock, valued at $5,046,937.95. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elena Gomez also recently made the following trade(s):

• On Monday, August 10th, Elena Gomez sold 5,761 shares of Toast stock. The stock was sold at an average price of $35.37, for a total value of $203,766.57.
• On Friday, August 7th, Elena Gomez sold 2,163 shares of Toast stock. The shares were sold at an average price of $35.10, for a total value of $75,921.30.
• On Thursday, August 6th, Elena Gomez sold 900 shares of Toast stock. The stock was sold at an average price of $35.02, for a total transaction of $31,518.00.
• On Wednesday, August 5th, Elena Gomez sold 16,176 shares of Toast stock. The stock was sold at an average price of $35.29, for a total transaction of $570,851.04.

Toast Stock Up 1.0%

Shares of TOST stock traded up $0.29 on Monday, hitting $30.08. The company had a trading volume of 12,414,094 shares, compared to its average volume of 11,170,402. The firm has a market cap of $15.46 billion, a P/E ratio of 38.56 and a beta of 1.74. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $39.72. The company has a 50-day moving average price of $33.06 and a 200-day moving average price of $28.96.

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

Institutional Trading of Toast

A number of large investors have recently made changes to their positions in TOST. Arkfeld Wealth Strategies L.L.C. lifted its stake in Toast by 138.8% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company's stock worth $7,807,000 after purchasing an additional 153,928 shares during the last quarter. Quantitative Investment Management LLC increased its stake in Toast by 120.1% in the second quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company's stock valued at $1,775,000 after purchasing an additional 34,831 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Toast by 47.4% during the second quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company's stock worth $27,008,000 after buying an additional 312,077 shares during the last quarter. Lavelle Capital LP acquired a new stake in shares of Toast during the first quarter worth $1,458,000. Finally, Junto Capital Management LP purchased a new stake in shares of Toast in the second quarter valued at about $54,320,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TOST shares. Sanford C. Bernstein boosted their price target on shares of Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Jefferies Financial Group set a $40.00 price target on Toast in a report on Wednesday, August 5th. Oppenheimer lifted their target price on shares of Toast from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Truist Financial increased their price target on shares of Toast from $33.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods increased their price target on Toast from $30.00 to $35.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.12.

Toast Company Profile

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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