Elena Gomez Sells 11,605 Shares of Toast (NYSE:TOST) Stock

Toast, Inc. (NYSE:TOST) CFO Elena Gomez sold 11,605 shares of the firm’s 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 completion of the sale, the chief financial officer owned 185,150 shares in the company, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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

Shares of TOST stock 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 market capitalization of $15.28 billion, a PE ratio of 45.56 and a beta of 1.74. The stock has a fifty day moving average of $25.69 and a two-hundred day moving average of $28.58.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TOST shares. Mizuho decreased their target price on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. UBS Group dropped their price target on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Loop Capital assumed coverage on shares of Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price target for the company. Barclays started coverage on shares of Toast in a report on Tuesday. They issued an “overweight” rating for the company. Finally, Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of Toast by 2,432.8% during the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after acquiring an additional 7,891,383 shares during the last quarter. Norges Bank acquired a new position in shares of Toast in the 4th quarter worth $202,808,000. ValueAct Holdings L.P. lifted its holdings in shares of Toast by 135.9% during the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the last quarter. Capital International Investors boosted its position in shares of Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares during the period. Finally, XN LP increased its stake in Toast by 50.8% in 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.

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.