Insider Selling: Toast, Inc. (NYSE:TOST) Director Sells 100,000 Shares of Stock

Toast, Inc. (NYSE:TOST) Director Richard Kent Bennett sold 100,000 shares of Toast stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the transaction, the director now directly owns 418,591 shares in the company, valued at approximately $15,349,731.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Toast Price Performance

Shares of TOST traded up $0.49 on Wednesday, reaching $39.92. 13,488,351 shares of the stock traded hands, compared to its average volume of 7,306,918. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of -307.08 and a beta of 1.74. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $40.53. The stock’s 50-day moving average price is $29.08 and its 200-day moving average price is $26.32.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TOST. Robert W. Baird lifted their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Mizuho upgraded Toast from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $21.00 to $33.00 in a report on Thursday, July 18th. Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Wedbush lifted their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus price target of $32.75.

Institutional Trading of Toast

Institutional investors and hedge funds have recently modified their holdings of the company. LRI Investments LLC bought a new stake in Toast in the first quarter valued at $27,000. West Branch Capital LLC acquired a new position in Toast in the second quarter worth $26,000. Toth Financial Advisory Corp acquired a new position in Toast in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the second quarter worth $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Toast in the second quarter worth $34,000. 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.