Toast, Inc. (NYSE:TOST) Insider Sells $18,346.02 in Stock

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

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 transaction of $28,197.00.
• On Friday, March 15th, James Michael Matlock sold 787 shares of Toast stock. The shares were sold at an average price of $23.59, for a total transaction 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 transaction 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 2.6 %

Shares of Toast stock opened at $21.61 on Friday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.00. The firm’s 50-day moving average is $23.07 and its two-hundred day moving average is $19.03.

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

Analysts Set New Price Targets

TOST has been the topic of several recent analyst reports. Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Wednesday, February 7th. Piper Sandler increased their target price on shares of Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 price target on shares of Toast in a research note on Thursday, April 11th. BNP Paribas raised shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Thursday, March 7th. Finally, 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 target on the stock. One investment 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.32.

Institutional Trading of Toast

A number of institutional investors have recently modified their holdings of TOST. Altimeter Capital Management LP boosted its holdings in shares of Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock valued at $3,933,007,000 after buying an additional 17,541,796 shares in the last quarter. Morgan Stanley raised its position in shares of Toast by 149.3% in the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after purchasing an additional 7,191,595 shares during the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Toast by 1,726.0% in the 4th quarter. Blue Owl Capital Holdings LP now owns 5,890,274 shares of the company’s stock valued at $107,556,000 after purchasing an additional 5,567,696 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Toast by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after purchasing an additional 5,232,858 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new position in shares of Toast in the 2nd quarter valued at approximately $111,554,000. 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.