Toast (NYSE:TOST) CFO Sells $348,854.10 in Stock

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 11,886 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $348,854.10. Following the completion of the transaction, the chief financial officer directly owned 171,957 shares in the company, valued at approximately $5,046,937.95. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elena Gomez also recently made the following trade(s):

• On Monday, August 10th, Elena Gomez sold 5,761 shares of Toast stock. The stock was sold at an average price of $35.37, for a total value of $203,766.57.
• On Friday, August 7th, Elena Gomez sold 2,163 shares of Toast stock. The shares were sold at an average price of $35.10, for a total value of $75,921.30.
• On Thursday, August 6th, Elena Gomez sold 900 shares of Toast stock. The stock was sold at an average price of $35.02, for a total value of $31,518.00.
• On Wednesday, August 5th, Elena Gomez sold 16,176 shares of Toast stock. The stock was sold at an average price of $35.29, for a total value of $570,851.04.

Toast Price Performance

TOST opened at $30.59 on Thursday. The business has a fifty day simple moving average of $32.96 and a 200 day simple moving average of $29.01. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $39.72. The company has a market capitalization of $15.72 billion, a PE ratio of 39.22 and a beta of 1.74.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts anticipate that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TOST. Jefferies Financial Group set a $40.00 price target on shares of Toast in a research report on Wednesday, August 5th. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, July 9th. Robert W. Baird raised their target price on shares of Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Sanford C. Bernstein lifted their price target on shares of Toast from $39.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Piper Sandler boosted their price target on Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

Hedge Funds Weigh In On Toast

Several hedge funds have recently bought and sold shares of TOST. Arkfeld Wealth Strategies L.L.C. boosted its holdings in shares of Toast by 138.8% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock valued at $7,807,000 after purchasing an additional 153,928 shares in the last quarter. Quantitative Investment Management LLC raised its holdings in shares of Toast by 120.1% during the 2nd quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock worth $1,775,000 after buying an additional 34,831 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Toast by 47.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock worth $27,008,000 after buying an additional 312,077 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of Toast during the 2nd quarter worth $54,320,000. Finally, Scholtz & Company LLC bought a new stake in shares of Toast during the 2nd quarter worth $2,321,000. 82.91% of the stock is owned by institutional investors.

Toast Company Profile

Toast, Inc (NYSE:TOST) provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company’s products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.