Toast, Inc. (NYSE:TOST) CEO Sells $647,660.19 in Stock

Toast, Inc. (NYSE:TOST – Get Rating) CEO Christopher P. Comparato sold 33,333 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $19.43, for a total value of $647,660.19. Following the completion of the sale, the chief executive officer now directly owns 171,063 shares in the company, valued at approximately $3,323,754.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Toast Stock Performance

Toast stock traded up $1.57 during trading on Monday, reaching $22.34. 7,487,376 shares of the company’s stock were exchanged, compared to its average volume of 4,136,127. The company’s 50-day moving average is $18.50 and its two-hundred day moving average is $18.25. Toast, Inc. has a 52-week low of $11.91 and a 52-week high of $30.60. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of -30.14 and a beta of 1.58.

Toast (NYSE:TOST – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.03. Toast had a negative net margin of 6.99% and a negative return on equity of 25.85%. The firm had revenue of $752.00 million during the quarter, compared to analysts’ expectations of $714.61 million. Analysts anticipate that Toast, Inc. will post -0.52 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on TOST. Credit Suisse Group boosted their price target on Toast to $21.50 in a report on Wednesday, November 16th. William Blair reiterated an “outperform” rating on shares of Toast in a report on Thursday, November 10th. Morgan Stanley boosted their price target on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Needham & Company LLC boosted their price target on Toast from $27.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 11th. Finally, Mizuho upgraded Toast from a “neutral” rating to a “buy” rating and boosted their price target for the company from $22.00 to $24.00 in a report on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.63.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TOST. Raymond James & Associates boosted its position in Toast by 115.4% in the 1st quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock valued at $542,000 after buying an additional 13,364 shares during the last quarter. HighTower Advisors LLC boosted its position in Toast by 78.2% in the 1st quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock valued at $616,000 after buying an additional 12,446 shares during the last quarter. Citigroup Inc. purchased a new position in Toast in the 1st quarter valued at about $438,000. Ergoteles LLC purchased a new position in Toast in the 1st quarter valued at about $2,427,000. Finally, First Trust Advisors LP purchased a new position in Toast in the 1st quarter valued at about $33,356,000. 50.82% of the stock is 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.