Toast (NYSE:TOST) CEO Aman Narang Sells 13,510 Shares

Toast, Inc. (NYSE:TOST) CEO Aman Narang sold 13,510 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $35.02, for a total value of $473,120.20. Following the transaction, the chief executive officer owned 161,948 shares in the company, valued at approximately $5,671,418.96. This trade represents a 7.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aman Narang also recently made the following trade(s):

• On Wednesday, August 5th, Aman Narang sold 124,542 shares of Toast stock. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18.
• On Thursday, July 2nd, Aman Narang sold 14,365 shares of Toast stock. The shares were sold at an average price of $28.85, for a total value of $414,430.25.

Toast Price Performance

Shares of NYSE:TOST opened at $34.47 on Friday. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 44.19 and a beta of 1.72. The firm’s 50 day simple moving average is $28.44 and its 200 day simple moving average is $27.90. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $46.11.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts expect that Toast, Inc. will post 0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target on Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Wednesday. Zacks Research cut Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Jefferies Financial Group set a $40.00 price target on Toast in a research report on Wednesday. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $35.00 price target on shares of Toast in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $40.00 price objective on shares of Toast in a report on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.62.

Institutional Trading of Toast

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its position in Toast by 1.0% during the fourth 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 during the last quarter. Morgan Stanley increased its position in shares of Toast by 6.7% during 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 raised its stake in shares of Toast by 3.0% during 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 in the last quarter. XN LP boosted its holdings in shares of Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after buying an additional 3,029,856 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Toast by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after buying an additional 169,230 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast News Roundup

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Analysts raise price targets: BMO Capital Markets lifted its Toast price target to $40, while Needham and Keefe, Bruyette & Woods also expressed expectations for meaningful appreciation. These calls reinforce the bullish case following Toast’s growth and improving profitability. BMO Capital Markets Raises Toast Price Target Needham Forecasts Toast Price Appreciation Keefe Bruyette Woods Toast Outlook
• Positive Sentiment: AI and partnership momentum: A report highlights Toast’s AI initiatives and relationships with Google and hotel operators as potential catalysts for expanding its addressable market and strengthening the long-term growth story. Toast AI, Google, and Hotel Partnership Report
• Positive Sentiment: Options activity signals bullish positioning: High trading volume in Toast call options suggests some traders are positioning for additional upside, although options activity is a market signal rather than a change in fundamentals. Toast High Call Option Volume
• Neutral Sentiment: Mixed quarterly results: Toast exceeded revenue expectations, reporting $1.91 billion, up 23.1% year over year, but adjusted earnings per share fell short of consensus estimates. The revenue growth supports the bull case, while the earnings miss raises questions about execution and near-term margins. Toast Second Quarter Sales Report
• Negative Sentiment: Valuation concerns: A Seeking Alpha analysis recommended trimming the position, arguing that Toast’s valuation could become difficult to justify if growth or profitability slows. This is a risk after the stock’s recent rally. Toast Valuation Downgrade
• Negative Sentiment: Executives sell shares: CEO Aman Narang sold approximately $4.9 million of Toast stock, while the CFO and CRO also sold shares. Because the transactions were made under pre-arranged Rule 10b5-1 plans, they may reflect scheduled diversification rather than diminished confidence, but the volume can still weigh on sentiment.

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.