Toast (NYSE:TOST) CFO Elena Gomez Sells 8,929 Shares

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares in the company, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Elena Gomez also recently made the following trade(s):

• On Tuesday, February 3rd, Elena Gomez sold 1,437 shares of Toast stock. The shares were sold at an average price of $30.34, for a total transaction of $43,598.58.
• On Monday, January 5th, Elena Gomez sold 6,672 shares of Toast stock. The shares were sold at an average price of $34.38, for a total value of $229,383.36.

Toast Stock Down 0.1%

Shares of TOST traded down $0.03 during trading hours on Friday, hitting $26.44. The company had a trading volume of 9,600,162 shares, compared to its average volume of 10,888,302. The firm has a market cap of $13.86 billion, a P/E ratio of 48.97 and a beta of 1.90. The stock’s 50 day moving average price is $28.25 and its 200 day moving average price is $33.41. Toast, Inc. has a 52-week low of $24.35 and a 52-week high of $49.66.

Toast (NYSE:TOST) last issued its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s revenue was up 22.0% compared to the same quarter last year. On average, research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group set a $35.00 target price on shares of Toast in a report on Friday, February 13th. Oppenheimer dropped their price target on shares of Toast from $48.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, February 13th. Citigroup cut their price target on shares of Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a research report on Friday, February 13th. Finally, DA Davidson dropped their target price on shares of Toast from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $39.88.

Hedge Funds Weigh In On Toast

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors raised its stake in Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Toast by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares during the period. Jennison Associates LLC grew its holdings in shares of Toast by 1.0% during the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after acquiring an additional 157,394 shares during the period. Morgan Stanley raised its position 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 acquiring an additional 653,487 shares in the last quarter. Finally, State Street Corp raised its position 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 acquiring an additional 282,282 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.