Toast, Inc. (NYSE:TOST) General Counsel Sells $79,922.06 in Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian R. Elworthy sold 2,878 shares of the 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 completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $4,938,505.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Toast Price Performance

TOST opened at $28.77 on Friday. The company’s 50-day moving average is $25.39 and its 200 day moving average is $24.84. The firm has a market capitalization of $13.26 billion, a PE ratio of -57.54 and a beta of 1.76. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $29.92.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Toast from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Wedbush upgraded shares of Toast to a “strong-buy” rating in a report on Friday, September 6th. Morgan Stanley increased their price target on Toast from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Mizuho raised Toast from a “neutral” rating to an “outperform” rating and boosted their price objective 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Hedge Funds Weigh In On Toast

Hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in Toast during the first quarter worth about $5,078,000. Syon Capital LLC purchased a new stake in shares of Toast during the fourth quarter valued at approximately $377,000. WoodTrust Financial Corp bought a new stake in Toast during the first quarter worth $754,000. QRG Capital Management Inc. boosted its position in Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after purchasing an additional 24,164 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in Toast in the 4th quarter valued at $186,000. 82.91% of the stock is 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.