Insider Selling: Toast, Inc. (NYSE:TOST) CFO Sells $42,807.36 in Stock

Posted by Defense World Staff on Aug 6th, 2023

Toast, Inc. (NYSE:TOST – Get Free Report) CFO Elena Gomez sold 2,064 shares of Toast stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $20.74, for a total value of $42,807.36. Following the sale, the chief financial officer now directly owns 136,115 shares in the company, valued at approximately $2,823,025.10. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

On Wednesday, July 5th, Elena Gomez sold 15,007 shares of Toast stock. The shares were sold at an average price of $22.20, for a total value of $333,155.40.

Toast Stock Performance

Shares of NYSE TOST opened at $20.02 on Friday. The stock’s fifty day simple moving average is $22.40 and its 200 day simple moving average is $20.44. Toast, Inc. has a 52-week low of $15.61 and a 52-week high of $27.00.

Toast (NYSE:TOST – Get Free Report) last issued its earnings results on Tuesday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $763.11 million. Toast had a negative return on equity of 29.74% and a negative net margin of 11.01%. The company’s quarterly revenue was up 53.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) EPS. Analysts predict that Toast, Inc. will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently modified their holdings of TOST. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Toast during the second quarter valued at $29,000. Whittier Trust Co. grew its holdings in shares of Toast by 365.0% during the first quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock valued at $29,000 after buying an additional 1,303 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Toast by 277.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after buying an additional 1,257 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Toast by 2,196.0% during the first quarter. Spire Wealth Management now owns 2,296 shares of the company’s stock valued at $41,000 after buying an additional 2,196 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Toast by 95.1% during the first quarter. CWM LLC now owns 2,641 shares of the company’s stock valued at $47,000 after buying an additional 1,287 shares in the last quarter. 57.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TOST has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on Toast from $27.00 to $23.50 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Robert W. Baird cut their target price on Toast from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Stephens initiated coverage on Toast in a research note on Thursday, April 13th. They set an “equal weight” rating and a $18.00 target price on the stock. Mizuho lifted their target price on Toast from $25.00 to $27.00 in a research note on Tuesday, June 13th. Finally, Jefferies Financial Group assumed coverage on Toast in a research report on Tuesday, July 11th. They set a “buy” rating and a $28.00 price target on the stock. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average price target of $23.44.

Toast Company Profile

(Get Free Report)

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.

Insider Buying and Selling by Quarter for Toast (NYSE:TOST)

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