Toast (NYSE:TOST) Stock Price Down 6.4% – Should You Sell?

Toast, Inc. (NYSE:TOST) shares were down 6.4% on Thursday . The company traded as low as $33.33 and last traded at $32.57. Approximately 413,480 shares were traded during trading, a decline of 94% from the average daily volume of 6,519,297 shares. The stock had previously closed at $34.78.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TOST shares. JPMorgan Chase & Co. lifted their price objective on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group set a $40.00 price objective on Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.48.

Toast Stock Performance

The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of -3,437.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The company has a 50-day moving average price of $38.12 and a 200-day moving average price of $34.56.

Toast (NYSE:TOST) last posted its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the transaction, the chief financial officer now owns 160,498 shares of the company’s stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,641 shares of company stock worth $8,937,776. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Several institutional investors have recently bought and sold shares of TOST. Victory Capital Management Inc. lifted its stake in Toast by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock valued at $1,406,000 after acquiring an additional 661 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Toast in the 3rd quarter valued at approximately $397,000. KBC Group NV lifted its stake in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after acquiring an additional 17,106 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after acquiring an additional 448 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in Toast by 43.9% in the 3rd quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock valued at $2,329,000 after acquiring an additional 25,113 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.