Toast, Inc. (NYSE:TOST) CEO Aman Narang Sells 10,106 Shares

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Aman Narang also recently made the following trade(s):

• On Friday, August 2nd, Aman Narang sold 1,856 shares of Toast stock. The stock was sold at an average price of $24.00, for a total value of $44,544.00.

Toast Stock Up 1.6 %

NYSE:TOST traded up $0.45 during mid-day trading on Thursday, hitting $27.88. 4,139,426 shares of the stock traded hands, compared to its average volume of 7,319,380. The business’s 50-day moving average price is $25.27 and its 200 day moving average price is $24.77. The company has a market cap of $12.85 billion, a PE ratio of -55.38 and a beta of 1.75. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $29.92.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned ($0.19) EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Analysts anticipate that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOST. Morgan Stanley raised their price objective on shares of Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group restated a “buy” rating and set a $29.00 price target on shares of Toast in a research note on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research report on Wednesday, August 7th. Finally, Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Toast by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the last quarter. Capital International Investors raised its stake in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares in the last quarter. Abdiel Capital Advisors LP grew its stake in Toast by 0.3% in the 4th quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after buying an additional 37,091 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its stake in Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after buying an additional 833,390 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.