Toast (NYSE:TOST) CRO Sells 7,623 Shares of Company Stock

Key Points

• Toast CRO Jonathan Vassil sold 7,623 shares at an average price of $30.19, generating approximately $230,138. The Rule 10b5-1 transaction reduced his holdings by 8.96%, leaving him with 77,424 shares.
• Toast shares rose 0.7% to $30.25, while the company reported quarterly revenue of $1.91 billion, up 23.1% year over year, though adjusted EPS of $0.26 missed analysts’ $0.32 estimate.
• Analysts maintain a Moderate Buy consensus, with an average price target of $39.12; institutional investors own approximately 82.91% of Toast’s outstanding shares.

Toast, Inc. (NYSE:TOST - Get Free Report) CRO Jonathan Vassil sold 7,623 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $30.19, for a total transaction of $230,138.37. Following the sale, the executive owned 77,424 shares of the company's stock, valued at $2,337,430.56. This trade represents a 8.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Friday, October 2nd, Jonathan Vassil sold 13,465 shares of Toast stock. The stock was sold at an average price of $29.69, for a total transaction of $399,775.85.
• On Wednesday, September 2nd, Jonathan Vassil sold 14,280 shares of Toast stock. The stock was sold at an average price of $33.90, for a total transaction of $484,092.00.
• 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 transaction of $3,099,075.20.
• On Wednesday, August 19th, Jonathan Vassil sold 13,931 shares of Toast stock. The stock was 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 shares were 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 shares were sold at an average price of $32.89, for a total value of $469,669.20.

Toast Stock Up 0.7%

TOST traded up $0.21 during trading on Tuesday, hitting $30.25. The company's stock had a trading volume of 5,656,858 shares, compared to its average volume of 11,141,606. The stock has a market capitalization of $15.55 billion, a price-to-earnings ratio of 38.78 and a beta of 1.74. The firm's 50 day moving average price is $33.04 and its two-hundred day moving average price is $28.98. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $39.72.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.26 EPS 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.13 EPS. Toast's revenue for the quarter was up 23.1% on a year-over-year basis. On average, sell-side analysts forecast that Toast, Inc. will post 1 earnings per share for the current year.

Trending Headlines about Toast

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Toast introduced a new Toast IQ team and expanded Toast IQ Grow capabilities, aiming to help restaurants improve profits, attract guests and manage labor more effectively. The initiative could strengthen Toast’s software value proposition, increase customer engagement and support additional revenue opportunities over time. New Toast IQ Team and Expanded Toast IQ Grow
• Neutral Sentiment: Five senior executives—including CEO Aman Narang, CFO Elena Gomez, CRO Jonathan Vassil, President Stephen Fredette and General Counsel Brian Elworthy—sold a combined 55,939 shares worth approximately $1.65 million. The filings state that the sales were made under pre-arranged Rule 10b5-1 plans or to cover tax-withholding obligations from equity vesting, reducing their significance as a bearish signal. Toast executive Form 4 filings

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hickory Point Bank & Trust grew its position in shares of Toast by 10.0% during the 3rd quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company's stock worth $159,000 after buying an additional 500 shares during the period. Talon Private Wealth LLC acquired a new position in Toast in the second quarter valued at approximately $837,000. Junto Capital Management LP bought a new position in Toast in the second quarter valued at approximately $54,320,000. Tidal Investments LLC boosted its stake in Toast by 31.9% in the second quarter. Tidal Investments LLC now owns 18,071 shares of the company's stock valued at $503,000 after acquiring an additional 4,372 shares during the last quarter. Finally, Scholtz & Company LLC acquired a new stake in Toast during the 2nd quarter worth $2,321,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on TOST shares. Piper Sandler boosted their target price on shares of Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $40.00 price target on shares of Toast in a research note on Wednesday, August 5th. BTIG Research reissued a "neutral" rating on shares of Toast in a report on Thursday, August 27th. BMO Capital Markets boosted their price objective on shares of Toast from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Citigroup upped their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.12.

Toast Company Profile

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other foodservice businesses. Its platform combines point-of-sale hardware and software with tools for payment processing, menu and order management, employee operations, inventory, reporting and customer engagement.

The company's products and services support in-restaurant, online and delivery orders, as well as gift cards, loyalty programs, marketing and payroll-related functions. Toast also offers restaurant-specific hardware, including terminals, handheld devices, kitchen display systems and self-service kiosks, allowing businesses to manage operations through an integrated technology ecosystem.

Founded in 2011 and headquartered in Boston, Toast initially focused on helping restaurants replace traditional point-of-sale systems with cloud-based technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.