Insider Selling: Toast (NYSE:TOST) CFO Sells $75,921.30 in Stock

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 2,163 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $35.10, for a total transaction of $75,921.30. Following the completion of the sale, the chief financial officer owned 165,911 shares in the company, valued at $5,823,476.10. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Elena Gomez also recently made the following trade(s):

• On Monday, August 10th, Elena Gomez sold 5,761 shares of Toast stock. The shares were sold at an average price of $35.37, for a total transaction of $203,766.57.
• On Thursday, August 6th, Elena Gomez sold 900 shares of Toast stock. The stock was sold at an average price of $35.02, for a total transaction of $31,518.00.
• On Wednesday, August 5th, Elena Gomez sold 16,176 shares of Toast stock. The stock was sold at an average price of $35.29, for a total transaction of $570,851.04.
• On Thursday, July 2nd, Elena Gomez sold 11,605 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25.

Toast Trading Up 3.3%

Shares of NYSE:TOST opened at $35.20 on Friday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $45.64. The company has a 50-day moving average price of $29.15 and a 200 day moving average price of $27.90. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 45.12 and a beta of 1.72.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The company’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. As a group, equities analysts forecast that Toast, Inc. will post 1 EPS for the current year.

Analysts Set New Price Targets

TOST has been the subject of several recent analyst reports. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. BMO Capital Markets increased their target price on shares of Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Needham & Company LLC raised their target price on shares of Toast from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Piper Sandler lifted their price target on shares of Toast from $32.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, July 9th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Arkfeld Wealth Strategies L.L.C. lifted its stake in shares of Toast by 138.8% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock valued at $7,807,000 after purchasing an additional 153,928 shares during the period. Capelight Capital Asset Management LP acquired a new stake in Toast during the fourth quarter valued at $2,131,000. Robeco Institutional Asset Management B.V. increased its holdings in Toast by 6.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company’s stock valued at $34,524,000 after buying an additional 57,512 shares in the last quarter. Lecap Asset Management Ltd. increased its holdings in Toast by 206.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock valued at $2,099,000 after buying an additional 39,847 shares in the last quarter. Finally, Campbell Capital Management Inc. acquired a new position in shares of Toast in the fourth quarter worth about $9,812,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.