Toast (NYSE:TOST) Stock Price Down 7.2% on Insider Selling

Toast, Inc. (NYSE:TOSTGet Free Report)’s stock price fell 7.2% on Wednesday following insider selling activity. The stock traded as low as $23.40 and last traded at $23.60. 2,759,212 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 8,096,014 shares. The stock had previously closed at $25.43.

Specifically, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the transaction, the executive now directly owns 26,897 shares of the company’s stock, valued at approximately $693,673.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total value of $1,289,500.00. Following the sale, the executive now directly owns 26,897 shares in the company, valued at $693,673.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,010 shares of company stock valued at $6,001,260. Insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC lifted their target price on Toast from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Royal Bank of Canada lifted their price objective on shares of Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Piper Sandler increased their target price on shares of Toast from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. UBS Group lifted their price target on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Robert W. Baird lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast has a consensus rating of “Hold” and a consensus target price of $26.00.

Get Our Latest Analysis on TOST

Toast Stock Down 7.1 %

The business’s 50-day moving average is $24.40 and its two-hundred day moving average is $20.62. The company has a market capitalization of $10.70 billion, a P/E ratio of -47.32 and a beta of 1.77.

Toast (NYSE:TOSTGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) EPS. Analysts predict that Toast, Inc. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in Toast in the first quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in Toast in the fourth quarter worth $30,000. Cape Investment Advisory Inc. bought a new stake in shares of Toast in the fourth quarter valued at $31,000. SRS Capital Advisors Inc. bought a new stake in shares of Toast in the third quarter valued at $33,000. Finally, Spire Wealth Management lifted its position in shares of Toast by 481.6% during the 3rd quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock valued at $34,000 after buying an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

(Get Free Report)

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.

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