Insider Selling: Toast, Inc. (NYSE:TOST) CEO Sells $280,643.62 in Stock

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now owns 968,095 shares in the company, valued at $26,883,998.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 Price Performance

NYSE:TOST opened at $28.77 on Friday. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of -57.54 and a beta of 1.76. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $29.92. The business has a 50 day moving average of $25.39 and a 200 day moving average of $24.84.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 EPS 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned ($0.19) EPS. The firm’s revenue was up 27.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Toast, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. West Branch Capital LLC bought a new position in Toast during the 2nd quarter worth approximately $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the first quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast in the second quarter worth approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Toast in the second quarter worth $34,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Toast in the first quarter worth $37,000. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of analyst reports. Bank of America boosted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Toast in a research note on Thursday, September 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $27.00 target price on shares of Toast in a research note on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toast presently has an average 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.