Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy Sells 2,878 Shares

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,878 shares of Toast stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $79,922.06. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $4,938,505.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Toast Stock Performance

Shares of NYSE TOST traded up $0.45 during mid-day trading on Thursday, hitting $27.88. The stock had a trading volume of 4,139,872 shares, compared to its average volume of 7,319,380. The company has a 50 day moving average of $25.27 and a two-hundred day moving average of $24.77. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $29.92. The firm has a market cap of $12.85 billion, a PE ratio of -55.38 and a beta of 1.75.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative return on equity of 11.27% and a negative net margin of 3.10%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities research analysts predict that Toast, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Toast

Institutional investors have recently made changes to their positions in the company. Truist Financial Corp purchased a new stake in Toast in the 2nd quarter valued at $618,000. Kampmann Melissa S. acquired a new stake in Toast during the second quarter worth about $1,122,000. Northwestern Mutual Wealth Management Co. raised its stake in Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after purchasing an additional 421 shares during the period. Ascent Group LLC acquired a new position in Toast in the 2nd quarter valued at about $333,000. Finally, Scientech Research LLC purchased a new stake in shares of Toast in the 2nd quarter valued at approximately $236,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $21.00 to $33.00 in a report on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Bank of America raised their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $27.00 price target on shares of Toast in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.