Insider Selling: Toast (NYSE:TOST) CRO Sells 14,280 Shares of Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 14,280 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $33.90, for a total value of $484,092.00. Following the sale, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,371,847.40. The trade was a 16.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Vassil also recently made the following trade(s):

• On Friday, August 21st, Jonathan Vassil sold 85,280 shares of Toast stock. The shares were sold at an average price of $36.34, for a total value of $3,099,075.20.
• On Wednesday, August 19th, Jonathan Vassil sold 13,931 shares of Toast stock. The shares were sold at an average price of $36.01, for a total value of $501,655.31.
• On Tuesday, August 11th, Jonathan Vassil sold 13,797 shares of Toast stock. The stock was sold at an average price of $36.01, for a total value of $496,829.97.
• On Wednesday, August 5th, Jonathan Vassil sold 4,700 shares of Toast stock. The stock was sold at an average price of $36.02, for a total value of $169,294.00.
• On Monday, August 3rd, Jonathan Vassil sold 14,280 shares of Toast stock. The stock was sold at an average price of $32.89, for a total transaction of $469,669.20.
• On Tuesday, July 7th, Jonathan Vassil sold 3,150 shares of Toast stock. The stock was sold at an average price of $30.03, for a total transaction of $94,594.50.
• On Thursday, July 2nd, Jonathan Vassil sold 6,647 shares of Toast stock. The shares were sold at an average price of $28.85, for a total transaction of $191,765.95.

Toast Price Performance

Shares of Toast stock traded up $0.01 during trading on Friday, reaching $33.94. 5,808,254 shares of the company traded hands, compared to its average volume of 11,445,368. The firm has a market capitalization of $17.45 billion, a PE ratio of 43.51 and a beta of 1.72. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $42.15. The company has a 50 day moving average price of $32.27 and a 200-day moving average price of $28.50.

Toast (NYSE:TOST) last posted its quarterly 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 net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm 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 1 earnings per share for the current year.

Institutional Trading of Toast

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its holdings in shares of Toast by 1,555.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the period. Cerity Partners LLC increased its position in Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after buying an additional 15,774 shares during the last quarter. State Street Corp increased its position in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Toast in the second quarter valued at $4,479,000. Finally, Sei Investments Co. lifted its position in shares of Toast by 24.6% during the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after buying an additional 203,404 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Mizuho cut their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, July 9th. Finally, Truist Financial boosted their target price on shares of Toast from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.12.

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.