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

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,878 shares of Toast 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 sale, 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 legal filing with the SEC, which is available through this hyperlink.

Toast Price Performance

NYSE TOST opened at $27.88 on Friday. The company’s fifty day moving average is $25.33 and its two-hundred day moving average is $24.79. The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of -55.76 and a beta of 1.76. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $29.92.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in Toast by 37.5% in the fourth quarter. US Bancorp DE now owns 52,142 shares of the company’s stock valued at $952,000 after buying an additional 14,221 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Toast by 76.7% during the fourth quarter. Hsbc Holdings PLC now owns 90,222 shares of the company’s stock worth $1,651,000 after acquiring an additional 39,166 shares during the last quarter. TD Asset Management Inc lifted its position in Toast by 7.0% during the 4th quarter. TD Asset Management Inc now owns 115,148 shares of the company’s stock valued at $2,103,000 after purchasing an additional 7,500 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Toast by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 157,138 shares of the company’s stock valued at $2,869,000 after buying an additional 1,540 shares during the period. Finally, Bank of Nova Scotia bought a new position in shares of Toast in the 4th quarter worth $332,000. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TOST shares. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Morgan Stanley raised their target price on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Bank of America upped their price target on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 price objective on shares of Toast in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $28.33.

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.