Insider Selling: Toast (NYSE:TOST) General Counsel Sells $37,636.86 in Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 1,059 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $37,636.86. Following the sale, the general counsel directly owned 229,017 shares of the company’s stock, valued at $8,139,264.18. This represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Toast Price Performance

NYSE:TOST opened at $36.99 on Friday. The company has a market cap of $19.05 billion, a P/E ratio of 86.02 and a beta of 1.94. The firm’s fifty day moving average price is $38.33 and its two-hundred day moving average price is $41.37. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66.

Toast (NYSE:TOST) last announced its 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 the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently added to or reduced their stakes in TOST. Roundview Capital LLC lifted its position in shares of Toast by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock valued at $1,932,000 after acquiring an additional 245 shares during the period. Cim LLC lifted its position in Toast by 0.7% during the second quarter. Cim LLC now owns 38,302 shares of the company’s stock worth $1,696,000 after purchasing an additional 273 shares during the period. GAMMA Investing LLC lifted its position in Toast by 7.2% during the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after purchasing an additional 278 shares during the period. SBI Securities Co. Ltd. grew its stake in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after buying an additional 284 shares in the last quarter. Finally, True Vision MN LLC grew its stake in Toast by 3.6% during the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock worth $363,000 after buying an additional 285 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TOST. Keefe, Bruyette & Woods reduced their price objective on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. The Goldman Sachs Group dropped their price target on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley upped their price objective on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, UBS Group dropped their target price on Toast from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average price target 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.