Insider Selling: Toast, Inc. (NYSE:TOST) CRO Sells 1,427 Shares of Stock

Key Points

• Toast, Inc. CRO Jonathan Vassil sold 1,427 shares at an average price of $48.38, reducing his ownership by 2.20%, leaving him with approximately $3.06 million in shares.
• The company's shares have seen a 3.5% decrease in trading, currently priced at $46.03, with a market cap of $22.92 billion.
• After posting earnings that missed estimates at $0.13 EPS, analysts maintain a "Moderate Buy" rating for Toast with an average price target of $45.54.

Toast, Inc. (NYSE:TOST - Get Free Report) CRO Jonathan Vassil sold 1,427 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $69,038.26. Following the transaction, the executive owned 63,298 shares in the company, valued at approximately $3,062,357.24. This trade represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 2nd, Jonathan Vassil sold 6,592 shares of Toast stock. The stock was sold at an average price of $42.59, for a total transaction of $280,753.28.

Toast Trading Down 3.5%

Shares of NYSE TOST traded down $1.68 during trading on Wednesday, reaching $46.03. 21,521,596 shares of the company traded hands, compared to its average volume of 8,380,847. The firm's fifty day simple moving average is $44.52 and its 200 day simple moving average is $39.85. The stock has a market cap of $22.92 billion, a P/E ratio of 135.38 and a beta of 2.01. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $49.66.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. Toast had a return on equity of 14.81% and a net margin of 4.07%. Toast's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. As a group, research analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Toast in a research note on Wednesday, July 16th. They set a "buy" rating on the stock. Citigroup reaffirmed a "buy" rating on shares of Toast in a report on Wednesday, July 16th. Canaccord Genuity Group lifted their price target on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. Finally, Jefferies Financial Group boosted their target price on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.54.

Institutional Trading of Toast

Several hedge funds have recently modified their holdings of TOST. Ameritas Advisory Services LLC acquired a new stake in shares of Toast in the second quarter valued at $31,000. Wayfinding Financial LLC purchased a new position in Toast in the first quarter valued at $34,000. REAP Financial Group LLC increased its holdings in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company's stock valued at $35,000 after buying an additional 506 shares during the last quarter. Piscataqua Savings Bank increased its holdings in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares during the last quarter. Finally, West Branch Capital LLC increased its holdings in Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.

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