Insider Selling: Toast, Inc. (NYSE:TOST) Insider Sells 798 Shares of Stock

Toast, Inc. (NYSE:TOST) insider James Michael Matlock sold 798 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $22.99, for a total value of $18,346.02. Following the transaction, the insider now directly owns 40,156 shares in the company, valued at approximately $923,186.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Michael Matlock also recently made the following trade(s):

• On Tuesday, April 2nd, James Michael Matlock sold 1,205 shares of Toast stock. The shares were sold at an average price of $23.40, for a total value of $28,197.00.
• On Friday, March 15th, James Michael Matlock sold 787 shares of Toast stock. The stock was sold at an average price of $23.59, for a total value of $18,565.33.
• On Monday, February 5th, James Michael Matlock sold 4,151 shares of Toast stock. The shares were sold at an average price of $18.20, for a total value of $75,548.20.
• On Friday, February 2nd, James Michael Matlock sold 5,804 shares of Toast stock. The shares were sold at an average price of $18.72, for a total transaction of $108,650.88.

Toast Trading Down 2.5 %

Shares of NYSE TOST opened at $22.18 on Friday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.00. The firm has a 50-day moving average price of $23.03 and a 200 day moving average price of $19.01.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period last year, the firm earned ($0.19) EPS. Analysts anticipate that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of recent research reports. Evercore ISI began coverage on shares of Toast in a research note on Monday, March 4th. They issued an “outperform” rating and a $32.00 price objective on the stock. Piper Sandler upped their price objective on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods assumed coverage on Toast in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 target price on the stock. Robert W. Baird upped their price target on Toast from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $23.00 price target on shares of Toast in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus target price of $24.32.

Hedge Funds Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates increased its position in shares of Toast by 115.4% in the first 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 in the last quarter. HighTower Advisors LLC increased its holdings in Toast by 78.2% during the 1st quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock valued at $616,000 after acquiring an additional 12,446 shares in the last quarter. Citigroup Inc. acquired a new position in Toast during the first quarter worth about $438,000. Ergoteles LLC acquired a new position in Toast during the first quarter worth about $2,427,000. Finally, First Trust Advisors LP acquired a new stake in shares of Toast in the first quarter valued at approximately $33,356,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.