Toast (NYSE:TOST) CFO Sells $334,804.25 in Stock

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 11,605 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $334,804.25. Following the sale, the chief financial officer owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Down 3.5%

Shares of NYSE TOST opened at $28.58 on Thursday. The business’s 50 day moving average is $25.68 and its two-hundred day moving average is $28.52. The company has a market cap of $14.75 billion, a P/E ratio of 43.97 and a beta of 1.74. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66.

Hedge Funds Weigh In On Toast

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors grew its position in Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after acquiring an additional 3,351,545 shares during the period. Jennison Associates LLC boosted its stake in shares of Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after purchasing an additional 157,394 shares in the last quarter. Morgan Stanley grew its holdings in shares of Toast by 6.7% in the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after purchasing an additional 653,487 shares during the last quarter. State Street Corp grew its holdings in shares of Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock worth $348,729,000 after purchasing an additional 282,282 shares during the last quarter. Finally, XN LP increased its position in shares of Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TOST shares. Loop Capital initiated coverage on shares of Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price for the company. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Robert W. Baird boosted their price target on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $37.41.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.