Toast, Inc. (NYSE:TOST) Major Shareholder Technology Investment Dining G Sells 3,096,741 Shares

Toast, Inc. (NYSE:TOST – Get Rating) major shareholder Technology Investment Dining G sold 3,096,741 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $14.12, for a total value of $43,725,982.92. Following the completion of the sale, the insider now owns 20,524,970 shares in the company, valued at approximately $289,812,576.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

TOST stock opened at $13.90 on Tuesday. Toast, Inc. has a 1-year low of $11.91 and a 1-year high of $69.93. The business’s 50 day simple moving average is $18.78 and its 200 day simple moving average is $28.12.

Toast (NYSE:TOST – Get Rating) last issued its quarterly earnings data on Tuesday, February 15th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.27). The business had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $484.55 million. Equities analysts forecast that Toast, Inc. will post -0.99 EPS for the current year.

TOST has been the topic of several research reports. Piper Sandler cut their target price on Toast from $48.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 16th. Morgan Stanley lowered their price target on Toast from $39.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 16th. Credit Suisse Group assumed coverage on Toast in a research report on Monday, March 28th. They set a “neutral” rating and a $22.00 price target on the stock. Sanford C. Bernstein assumed coverage on Toast in a research report on Tuesday, March 22nd. They set a “market perform” rating and a $19.00 price target on the stock. Finally, Needham & Company LLC lowered their price target on Toast from $38.00 to $21.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.40.

Hedge funds and other institutional investors have recently modified their holdings of the business. Lead Edge Capital Management LLC acquired a new position in Toast in the 3rd quarter valued at $2,498,000. Balyasny Asset Management LLC acquired a new position in Toast in the 3rd quarter valued at $6,182,000. Maplelane Capital LLC acquired a new position in Toast in the 3rd quarter valued at $1,124,000. Nikko Asset Management Americas Inc. acquired a new position in Toast in the 4th quarter valued at $57,302,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Toast in the 4th quarter valued at $24,217,000. 38.86% of the stock is currently owned by hedge funds and other institutional investors.

About Toast (Get Rating)

Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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