Brian R. Elworthy Sells 2,573 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,573 shares of Toast stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total value of $65,971.72. Following the completion of the sale, the general counsel now owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Toast Stock Performance

Shares of Toast stock opened at $25.35 on Thursday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90. The firm’s 50-day simple moving average is $24.68 and its 200-day simple moving average is $22.22.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Toast’s revenue for the quarter was up 31.3% compared to the same quarter last year. As a group, equities research analysts expect that Toast, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Toast

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in Toast by 306.0% during the third quarter. Envestnet Asset Management Inc. now owns 262,968 shares of the company’s stock valued at $4,925,000 after purchasing an additional 198,192 shares during the last quarter. Invesco Ltd. lifted its position in shares of Toast by 129.4% in the 3rd quarter. Invesco Ltd. now owns 704,621 shares of the company’s stock worth $13,198,000 after buying an additional 397,490 shares during the last quarter. Mariner LLC boosted its holdings in shares of Toast by 19.9% in the 3rd quarter. Mariner LLC now owns 42,259 shares of the company’s stock valued at $792,000 after buying an additional 7,022 shares during the period. Northern Trust Corp grew its position in shares of Toast by 12.9% during the 3rd quarter. Northern Trust Corp now owns 2,160,008 shares of the company’s stock valued at $40,457,000 after buying an additional 247,484 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Toast by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after acquiring an additional 790 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TOST. Canaccord Genuity Group boosted their price objective on shares of Toast from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Wedbush restated an “outperform” rating and issued a $30.00 price objective on shares of Toast in a report on Thursday, May 30th. Piper Sandler boosted their target price on Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. The Goldman Sachs Group raised their price target on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average target price of $26.14.

About Toast

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.