Insider Selling: Toast, Inc. (NYSE:TOST) Director Sells $960,254.60 in Stock

Toast, Inc. (NYSE:TOST) Director Richard Kent Bennett sold 22,885 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the sale, the director now owns 395,706 shares of the company’s stock, valued at approximately $16,603,823.76. This represents a 5.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Richard Kent Bennett also recently made the following trade(s):

• On Tuesday, November 12th, Richard Kent Bennett sold 100,000 shares of Toast stock. The stock was sold at an average price of $36.67, for a total value of $3,667,000.00.

Toast Price Performance

NYSE:TOST opened at $42.74 on Monday. The company’s fifty day moving average price is $31.45 and its 200-day moving average price is $27.20. Toast, Inc. has a 1-year low of $13.92 and a 1-year high of $43.29. The firm has a market capitalization of $20.13 billion, a P/E ratio of -328.77, a PEG ratio of 53.98 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Compass Point began coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. Bank of America lifted their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their target price on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Finally, Wedbush upped their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.86.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Makena Capital Management LLC lifted its holdings in shares of Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after buying an additional 19,371 shares during the period. KBC Group NV lifted its holdings in Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after acquiring an additional 17,106 shares during the period. Stephens Investment Management Group LLC boosted its position in Toast by 13.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after purchasing an additional 218,959 shares in the last quarter. Entropy Technologies LP purchased a new stake in Toast in the 3rd quarter worth approximately $894,000. Finally, Quest Partners LLC acquired a new stake in shares of Toast during the 3rd quarter worth approximately $1,391,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.