Toast, Inc. (NYSE:TOST) General Counsel Sells $9,117,000.00 in Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Toast Price Performance

Shares of TOST stock traded down $0.15 on Tuesday, hitting $29.37. The company’s stock had a trading volume of 3,359,701 shares, compared to its average volume of 7,150,183. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $30.70. The firm’s fifty day moving average price is $26.37 and its 200-day moving average price is $25.22. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of -58.88 and a beta of 1.76.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a research report on Friday, September 6th. Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Morgan Stanley lifted their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Bank of America lifted their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Whale Rock Capital Management LLC bought a new position in shares of Toast during the 1st quarter worth about $179,111,000. Capital International Investors increased its holdings in shares of Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. Marshall Wace LLP increased its stake in Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after acquiring an additional 1,604,716 shares during the period. Finally, Vanguard Group Inc. increased its stake in Toast by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.