Insider Selling: Toast, Inc. (NYSE:TOST) Director Sells 70,000 Shares of Stock

Toast, Inc. (NYSE:TOST) Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the sale, the director now directly owns 164,796 shares of the company’s stock, valued at $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Toast Stock Down 1.9 %

TOST stock opened at $35.20 on Friday. The stock has a market capitalization of $17.39 billion, a PE ratio of -3,516.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The firm has a 50 day moving average of $37.82 and a 200 day moving average of $35.07.

Toast (NYSE:TOST) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. On average, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Toast by 1.3% during the third quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock worth $1,406,000 after purchasing an additional 661 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Toast during the 3rd quarter worth approximately $397,000. CIBC Asset Management Inc increased its holdings in shares of Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Toast by 43.9% during the third quarter. Natixis Advisors LLC now owns 82,259 shares of the company’s stock worth $2,329,000 after buying an additional 25,113 shares in the last quarter. Finally, Swiss National Bank grew its position in Toast by 3.9% during the third quarter. Swiss National Bank now owns 1,075,600 shares of the company’s stock valued at $30,450,000 after buying an additional 40,600 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. BMO Capital Markets increased their price objective on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.48.

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.