Insider Selling: Toast (NYSE:TOST) General Counsel Sells 3,664 Shares of Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 3,664 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the sale, the general counsel owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Toast Price Performance

Toast stock traded down $0.03 during mid-day trading on Friday, hitting $26.44. The company’s stock had a trading volume of 9,600,162 shares, compared to its average volume of 10,888,302. The business has a 50 day moving average price of $28.25 and a 200-day moving average price of $33.41. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 48.97 and a beta of 1.90.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast declared that its Board of Directors has approved a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

More Toast News

Here are the key news stories impacting Toast this week:

• Neutral Sentiment: Loop Capital initiated coverage of Toast with a “Hold” rating, which removes an immediate buy catalyst and may cap near‑term upside until clearer growth/profitability signals arrive. Loop Capital coverage
• Neutral Sentiment: Toast has been heavily searched by investors (Zacks spotlight), which can increase short‑term volume and volatility but doesn’t itself change fundamentals. Zacks: Investors Heavily Search
• Negative Sentiment: Multiple senior executives sold stock on April 2 (CEO Aman Narang, CFO Elena Gomez, President Stephen Fredette, General Counsel Brian Elworthy, and CRO Jonathan Vassil), collectively disposing of roughly $1.04M of shares at about $26.19 each. The CEO’s sale reduced his holding by ~19.95%; other insiders also trimmed positions. Clustered sales by top management can be perceived negatively by the market (signaling liquidity needs or reduced insider confidence), even if they stem from routine vesting/diversification; filings are available with the SEC. CEO SEC filing

Institutional Investors Weigh In On Toast

A number of institutional investors have recently modified their holdings of TOST. Hsbc Holdings PLC increased its holdings in shares of Toast by 16.8% during the fourth quarter. Hsbc Holdings PLC now owns 181,371 shares of the company’s stock valued at $6,455,000 after acquiring an additional 26,032 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Toast by 5.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 169,122 shares of the company’s stock worth $6,006,000 after purchasing an additional 8,676 shares in the last quarter. Fund Advisors of America Inc FL bought a new position in shares of Toast during the fourth quarter valued at $290,000. Corient Private Wealth LLC increased its holdings in Toast by 7.3% in the 4th quarter. Corient Private Wealth LLC now owns 38,944 shares of the company’s stock worth $1,383,000 after buying an additional 2,660 shares in the last quarter. Finally, Bayban bought a new position in Toast during the fourth quarter valued at approximately $25,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TOST shares. Wells Fargo & Company lowered their price objective on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Sanford C. Bernstein set a $39.00 target price on Toast in a report on Monday, February 16th. Truist Financial set a $36.00 price objective on shares of Toast in a research report on Wednesday, February 25th. Evercore raised shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group set a $35.00 price target on shares of Toast in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.88.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.