Deval L. Patrick Sells 34,222 Shares of Toast, Inc. (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This trade represents a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Toast Stock Up 5.5 %

Shares of NYSE:TOST opened at $34.41 on Friday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock’s 50 day moving average is $38.12 and its 200-day moving average is $34.56. The firm has a market capitalization of $17.00 billion, a price-to-earnings ratio of -3,437.06, a PEG ratio of 2.16 and a beta of 1.99.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TOST shares. DA Davidson reaffirmed a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. Compass Point started coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Robert W. Baird lifted their price objective on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods lifted their price objective on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lifted their price objective on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.48.

Institutional Investors Weigh In On Toast

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. Capital International Investors grew its holdings in Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC grew its holdings in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. ValueAct Holdings L.P. bought a new stake in Toast during the third quarter worth $438,301,000. Finally, State Street Corp grew its stake in Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.