Toast (NYSE:TOST) Shares Down 6.4% – Time to Sell?

Toast, Inc. (NYSE:TOST)’s stock price dropped 6.4% on Thursday . The stock traded as low as $33.33 and last traded at $32.57. Approximately 413,480 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 6,519,297 shares. The stock had previously closed at $34.78.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group set a $40.00 price objective on Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer assumed coverage on Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price for the company. Finally, Compass Point started coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.48.

Toast Trading Down 6.0 %

The business has a fifty day simple moving average of $38.19 and a two-hundred day simple moving average of $34.58. The stock has a market cap of $16.15 billion, a PE ratio of -3,278.72, a P/E/G ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the completion of the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. This represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,119 shares of company stock worth $7,797,608. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors increased its holdings in Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC raised its position in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. ValueAct Holdings L.P. bought a new position in Toast during the 3rd quarter valued at about $438,301,000. Finally, State Street Corp lifted its stake in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after acquiring an additional 206,789 shares during the period. Institutional investors own 82.91% of the company’s stock.

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.