Toast, Inc. (NYSE:TOST) CEO Sells $588,977.11 in Stock

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the transaction, the chief executive officer owned 302,498 shares in the company, valued at $12,883,389.82. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Toast Price Performance

TOST traded down $0.33 during trading on Thursday, hitting $44.31. The company had a trading volume of 5,496,997 shares, compared to its average volume of 6,799,265. The company has a market cap of $22.07 billion, a PE ratio of 192.67 and a beta of 2.00. The business has a 50-day moving average of $42.24 and a 200-day moving average of $38.53. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $46.57.

Wall Street Analysts Forecast Growth

TOST has been the topic of several research reports. Evercore ISI initiated coverage on shares of Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Piper Sandler raised their price target on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. BMO Capital Markets raised their price target on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial initiated coverage on shares of Toast in a report on Monday, June 2nd. They issued a "buy" rating and a $48.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Toast presently has a consensus rating of "Hold" and an average price target of $41.21.

Institutional Trading of Toast

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Toast during the fourth quarter worth $282,010,000. Norges Bank acquired a new stake in shares of Toast during the fourth quarter worth $205,888,000. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after purchasing an additional 5,436,317 shares during the period. FMR LLC raised its holdings in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

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.