Insider Selling: Toast (NYSE:TOST) CEO Sells $61,555.28 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 1,732 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the transaction, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at $11,370,632.06. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, October 2nd, Aman Narang sold 13,652 shares of Toast stock. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12.

Toast Trading Up 1.7%

Shares of Toast stock opened at $36.99 on Friday. The company has a fifty day simple moving average of $38.33 and a 200-day simple moving average of $41.37. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 86.02 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. Toast’s revenue was up 25.1% compared to the same quarter last year. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TOST. Jennison Associates LLC lifted its holdings in shares of Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after purchasing an additional 6,606,245 shares during the period. Norges Bank acquired a new position in Toast in the 2nd quarter valued at $219,324,000. Marshall Wace LLP raised its position in Toast by 108.3% during the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock worth $349,333,000 after buying an additional 4,100,104 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after buying an additional 3,490,686 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Toast in the 1st quarter worth $86,650,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. UBS Group dropped their price target on Toast from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. DA Davidson set a $42.00 price target on Toast in a research report on Wednesday. Needham & Company LLC boosted their price objective on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Finally, Robert W. Baird lowered their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.64.

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.