Insider Selling: Toast, Inc. (NYSE:TOST) CFO Sells 12,500 Shares of Stock

Toast, Inc. (NYSE:TOST - Get Free Report) CFO Elena Gomez sold 12,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, April 2nd, Elena Gomez sold 15,063 shares of Toast stock. The shares were sold at an average price of $23.40, for a total value of $352,474.20.

Toast Stock Performance

TOST remained flat at $26.82 during trading on Thursday. The company's stock had a trading volume of 15,196,707 shares, compared to its average volume of 8,284,737. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.57. The stock has a market cap of $12.10 billion, a PE ratio of -52.59 and a beta of 1.77. The business has a fifty day simple moving average of $23.71 and a 200 day simple moving average of $19.57.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm's revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, research analysts expect that Toast, Inc. will post -0.22 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TOST. BNP Paribas raised Toast from a "neutral" rating to an "outperform" rating and set a $30.00 target price on the stock in a research report on Thursday, March 7th. Keefe, Bruyette & Woods lifted their target price on Toast from $25.00 to $26.00 and gave the company a "market perform" rating in a report on Wednesday. Piper Sandler boosted their price target on shares of Toast from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Thursday. Needham & Company LLC boosted their target price on Toast from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Redburn Atlantic upgraded shares of Toast from a "neutral" rating to a "buy" rating and set a $28.00 price target on the stock in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $25.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Morgan Stanley increased its position in Toast by 149.3% during the third quarter. Morgan Stanley now owns 12,007,286 shares of the company's stock worth $224,896,000 after purchasing an additional 7,191,595 shares during the last quarter. Norges Bank purchased a new position in shares of Toast in the 4th quarter worth $76,699,000. Meritage Group LP acquired a new position in Toast in the fourth quarter valued at $70,270,000. Vanguard Group Inc. grew its position in Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company's stock valued at $657,032,000 after acquiring an additional 3,494,579 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Toast by 69.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company's stock worth $120,523,000 after acquiring an additional 2,708,597 shares during the last quarter. 82.91% of the stock is currently 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.

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