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BOSTON—Brian R. Elworthy, General Counsel at Toast , Inc. (NYSE:TOST), a restaurant technology company with a market capitalization of $21.36 billion and an impressive 112% stock return over the past year, has sold 2,741 shares of the company's Class A Common Stock, according to a recent SEC filing. The transaction, recorded on January 3, 2025, was executed at an average price of $37.107 per share, amounting to a total value of $101,710. Following the sale, Elworthy retains direct ownership of 207,707 shares in the company. Additionally, he holds 78,736 shares indirectly through the Brian R. Elworthy Irrevocable Trust of 2019. The sale was made to cover tax withholding obligations related to the vesting and settlement of restricted stock units, as noted in the filing. According to InvestingPro, Toast maintains a strong financial health score, with 12 additional key insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, restaurant technology platform Toast Inc. has seen a series of analyst adjustments. BMO Capital Markets initiated coverage on Toast with an Outperform rating, highlighting attractive unit economics and EBITDA upside. However, DA Davidson downgraded the company's stock from Buy to Neutral, citing concerns over margin expansion expectations for 2025, a sentiment echoed by Goldman Sachs who also downgraded the stock but with an increased price target.
Amid these changes, Baird maintained its Neutral rating on Toast, holding steady with a price target of $38.00. This followed the company's new guidance on future margins, which fell significantly short of industry expectations.
In partnership news, Toast Inc. and Uber Technologies (NYSE:UBER) have announced an extension of their collaboration to enhance delivery options for U.S. restaurants. This extended partnership aims to reduce delivery costs and expand delivery areas for restaurants.
In the fintech sector, an RBC analyst highlighted a positive shift in sentiment among American small and medium-sized businesses, which is expected to boost technology investments. Companies like Toast Inc. are identified as potential beneficiaries of this trend.
These are recent developments in the ongoing story of Toast Inc.
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