Paul D. Bell Sells 11,000 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) Director Paul D. Bell sold 11,000 shares of Toast stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the sale, the director now directly owns 229,680 shares of the company’s stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Toast Trading Down 1.2%

Shares of TOST stock opened at $44.69 on Friday. The company has a market capitalization of $22.25 billion, a P/E ratio of -4,464.04, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The business’s 50 day moving average is $35.55 and its two-hundred day moving average is $37.36. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $45.56.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TOST. BMO Capital Markets raised their price target on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Royal Bank of Canada raised their target price on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Wells Fargo & Company upped their price target on Toast from $39.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Oppenheimer initiated coverage on shares of Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.91.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in Toast in the 4th quarter valued at approximately $282,010,000. Norges Bank acquired a new stake in shares of Toast in the 4th quarter valued at approximately $205,888,000. Principal Financial Group Inc. boosted its stake in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after buying an additional 5,436,317 shares in the last quarter. FMR LLC grew its holdings in 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 acquiring an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. raised its position in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after acquiring an additional 4,147,430 shares in the last quarter. 82.91% of the stock is currently 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.