Toast (NYSE:TOST) CEO Sells $4,395,087.18 in Stock

Key Points

• Toast CEO Aman Narang sold 124,542 shares for approximately $4.4 million at an average price of $35.29 under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 41.51% to 175,458 shares.
• Toast’s shares traded at $34.47, down 0.7%, 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 rating with an average price target of $38.62; institutional investors own approximately 82.91% of Toast’s outstanding shares.

Toast, Inc. (NYSE:TOST - Get Free Report) CEO Aman Narang sold 124,542 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the transaction, the chief executive officer owned 175,458 shares in the company, valued at $6,191,912.82. This trade represents a 41.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aman Narang also recently made the following trade(s):

• On Thursday, August 6th, Aman Narang sold 13,510 shares of Toast stock. The stock was sold at an average price of $35.02, for a total transaction of $473,120.20.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25.

Toast Trading Down 0.7%

TOST traded down $0.26 during midday trading on Friday, hitting $34.47. 10,398,928 shares of the company traded hands, compared to its average volume of 11,830,787. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 44.19 and a beta of 1.72. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $46.11. The business has a 50 day simple moving average of $28.28 and a two-hundred day simple moving average of $27.85.

Toast (NYSE:TOST - Get Free Report) last released its quarterly 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 return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $0.13 EPS. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts anticipate that Toast, Inc. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

TOST has been the topic of a number of research reports. The Goldman Sachs Group upgraded Toast from a "neutral" rating to a "buy" rating and set a $36.00 price objective on the stock in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $30.00 to $35.00 and gave the stock a "market perform" rating in a research note on Wednesday. Mizuho lowered their price target on shares of Toast from $45.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 12th. Jefferies Financial Group set a $40.00 price objective on shares of Toast in a report on Wednesday. Finally, Zacks Research cut Toast from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.62.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently modified their holdings of TOST. Bayban purchased a new stake in shares of Toast in the 4th quarter valued at approximately $25,000. SHP Wealth Management purchased a new stake in shares of Toast during the 4th quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new position in Toast in the fourth quarter valued at approximately $29,000. Silicon Valley Capital Partners purchased a new position in Toast in the fourth quarter worth approximately $36,000. Finally, Quadrant Capital Group LLC increased its stake in Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Company Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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