Brian Elworthy Sells 6,352 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) General Counsel Brian Elworthy sold 6,352 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $183,255.20. Following the sale, the general counsel owned 196,909 shares of the company’s stock, valued at $5,680,824.65. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Toast Stock Performance

TOST opened at $29.62 on Wednesday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The firm has a 50 day moving average price of $25.69 and a 200 day moving average price of $28.58. The company has a market cap of $15.28 billion, a PE ratio of 45.56 and a beta of 1.74.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of research reports. Piper Sandler started coverage on shares of Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 target price on the stock. Barclays began coverage on Toast in a report on Tuesday. They issued an “overweight” rating for the company. Loop Capital assumed coverage on Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective on the stock. Truist Financial decreased their target price on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Citigroup lowered their target price on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Institutional Investors Weigh In On Toast

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TOST. NewEdge Advisors LLC boosted its position in Toast by 1,555.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after buying an additional 16,379 shares during the last quarter. Cerity Partners LLC increased its position in shares of Toast by 24.0% during the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after acquiring an additional 15,774 shares during the last quarter. State Street Corp lifted its stake in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new position in shares of Toast in the second quarter worth about $4,479,000. Finally, Sei Investments Co. boosted its holdings in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after purchasing an additional 203,404 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Company Profile

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.