Brian R. Elworthy Sells 2,878 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,878 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $79,922.06. Following the transaction, the general counsel now owns 177,836 shares of the company’s stock, valued at $4,938,505.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Toast Stock Performance

NYSE:TOST traded up $0.45 during mid-day trading on Thursday, reaching $27.88. The stock had a trading volume of 4,139,872 shares, compared to its average volume of 7,319,380. Toast, Inc. has a twelve month low of $13.77 and a twelve month high of $29.92. The business has a 50 day simple moving average of $25.27 and a 200 day simple moving average of $24.77. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of -55.38 and a beta of 1.75.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, topping 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 business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, sell-side analysts expect that Toast, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of Toast

A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after buying an additional 421 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Toast by 1.0% in the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after buying an additional 436 shares in the last quarter. Wellington Shields & Co. LLC lifted its stake in Toast by 3.1% in the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after buying an additional 500 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Toast by 8.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock valued at $174,000 after buying an additional 520 shares in the last quarter. Finally, Comerica Bank lifted its stake in Toast by 10.9% in the 1st quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after buying an additional 607 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TOST. The Goldman Sachs Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Toast in a research report on Thursday, September 12th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Finally, Morgan Stanley upped their target price on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.33.

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.