Insider Selling: Toast, Inc. (NYSE:TOST) Insider Sells $220,152.00 in Stock

Toast, Inc. (NYSE:TOST) insider James Michael Matlock sold 9,173 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $24.00, for a total value of $220,152.00. Following the transaction, the insider now directly owns 55,548 shares in the company, valued at $1,333,152. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, July 2nd, James Michael Matlock sold 1,854 shares of Toast stock. The stock was sold at an average price of $25.64, for a total transaction of $47,536.56.

Toast Trading Down 6.1 %

Shares of TOST opened at $22.72 on Thursday. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.90. The company has a market cap of $10.29 billion, a PE ratio of -45.44 and a beta of 1.76. The stock has a 50-day moving average price of $24.74 and a 200-day moving average price of $23.52.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. As a group, analysts predict that Toast, Inc. will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Tuesday, May 21st. Baird R W lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. dropped their price objective on Toast from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Toast in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.85.

Institutional Investors Weigh In On Toast

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the last quarter. Capital International Investors lifted its position in shares of Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Toast by 21.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares in the last quarter. Abdiel Capital Advisors LP increased its position in shares of Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock valued at $199,280,000 after buying an additional 37,091 shares during the period. Finally, Champlain Investment Partners LLC lifted its holdings in Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after buying an additional 833,390 shares during the period. 82.91% of the stock is currently owned by institutional investors.

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.