Insider Selling: Toast (NYSE:TOST) CRO Sells $169,294.00 in Stock

Key Points

• Toast CRO Jonathan Vassil sold 4,700 shares at an average price of $36.02, generating $169,294 in proceeds and reducing his stake by 6.29%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Toast’s shares recently traded at $34.47, up substantially from their 50-day and 200-day moving averages. The company reported quarterly revenue of $1.91 billion, ahead of estimates, but earnings per share of $0.26 missed the $0.32 consensus forecast.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $38.62; several firms recently raised their targets to between $35 and $40.

Toast, Inc. (NYSE:TOST - Get Free Report) CRO Jonathan Vassil sold 4,700 shares of Toast stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $36.02, for a total transaction of $169,294.00. Following the transaction, the executive owned 69,966 shares in the company, valued at approximately $2,520,175.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Jonathan Vassil sold 14,280 shares of Toast stock. The shares were sold at an average price of $32.89, for a total value of $469,669.20.
• On Tuesday, July 7th, Jonathan Vassil sold 3,150 shares of Toast stock. The shares were sold at an average price of $30.03, for a total value of $94,594.50.
• On Thursday, July 2nd, Jonathan Vassil sold 6,647 shares of Toast stock. The stock was sold at an average price of $28.85, for a total value of $191,765.95.

Toast Trading Down 0.7%

TOST traded down $0.26 on Friday, hitting $34.47. 10,398,928 shares of the company's stock traded hands, compared to its average volume of 11,830,787. The company's 50 day simple moving average is $28.28 and its 200-day simple moving average is $27.85. Toast, Inc. has a one year low of $22.26 and a one year high of $46.11. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 44.19 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) 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 return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities analysts anticipate that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Trading of Toast

A number of institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in shares of Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company's stock valued at $538,259,000 after acquiring an additional 157,394 shares during the period. Morgan Stanley grew its holdings in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company's stock valued at $368,332,000 after purchasing an additional 653,487 shares during the last quarter. State Street Corp lifted its stake in Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company's stock worth $348,729,000 after purchasing an additional 282,282 shares during the last quarter. XN LP grew its stake in shares of Toast by 50.8% during the fourth quarter. XN LP now owns 8,988,386 shares of the company's stock valued at $319,178,000 after buying an additional 3,029,856 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Toast by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock worth $307,214,000 after buying an additional 169,230 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TOST. Piper Sandler raised their price target on Toast from $32.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on Toast from $30.00 to $35.00 and gave the company a "market perform" rating in a research report on Wednesday. Jefferies Financial Group set a $40.00 target price on shares of Toast in a report on Wednesday. Robert W. Baird increased their price objective on shares of Toast from $30.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, Oppenheimer lifted their price objective on shares of Toast from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.62.

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.

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