Toast (NYSE:TOST) Stock Price Down 3%

Toast, Inc. (NYSE:TOST) fell 3% during trading on Wednesday . The company traded as low as $25.19 and last traded at $25.20. 2,383,347 shares were traded during trading, a decline of 70% from the average session volume of 8,075,104 shares. The stock had previously closed at $25.99.

Analysts Set New Price Targets

A number of research firms have commented on TOST. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 target price on shares of Toast in a research note on Wednesday, May 29th. Royal Bank of Canada increased their price objective on shares of Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Baird R W lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. UBS Group increased their price objective on shares of Toast from $22.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Toast has a consensus rating of “Hold” and a consensus target price of $26.14.

Toast Stock Down 2.6 %

The stock has a 50 day moving average price of $24.63 and a two-hundred day moving average price of $22.20. The firm has a market cap of $11.47 billion, a PE ratio of -51.90 and a beta of 1.76.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Toast’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the transaction, the executive now directly owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Toast news, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $23.19, for a total value of $96,261.69. Following the completion of the sale, the insider now directly owns 46,510 shares in the company, valued at approximately $1,078,566.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the sale, the executive now owns 25,422 shares of the company’s stock, valued at $582,163.80. The disclosure for this sale can be found here. Insiders sold a total of 197,449 shares of company stock valued at $4,817,383 in the last three months. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently modified their holdings of TOST. LRI Investments LLC purchased a new position in shares of Toast during the 1st quarter worth $27,000. Principal Securities Inc. purchased a new position in Toast during the 4th quarter valued at about $30,000. Cape Investment Advisory Inc. purchased a new position in Toast during the 4th quarter valued at about $31,000. Harbor Investment Advisory LLC acquired a new stake in shares of Toast during the 1st quarter worth about $37,000. Finally, Baystate Wealth Management LLC grew its stake in Toast by 58.2% during the 4th quarter. Baystate Wealth Management LLC now owns 2,435 shares of the company’s stock worth $44,000 after buying an additional 896 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Company Profile

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.