Toast (NYSE:TOST) CRO Sells 85,280 Shares

Key Points

• Toast CRO Jonathan Vassil sold 85,280 shares at an average price of $36.34, generating approximately $3.10 million. The Rule 10b5-1 transaction reduced his holdings by 54.93% to 69,966 shares.
• Toast shares recently traded around $36.81, with the stock up significantly from its 50-day and 200-day moving averages. The company reported $1.91 billion in quarterly revenue, up 23.1% year over year, but earnings per share of $0.26 missed analysts’ $0.32 estimate.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $39.00, while institutional investors own 82.91% of the company’s outstanding shares.

Toast, Inc. (NYSE:TOST - Get Free Report) CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the sale, the executive owned 69,966 shares in the company, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 shares were 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 stock was 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 stock was 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 shares were sold at an average price of $28.85, for a total value of $191,765.95.

Toast Price Performance

Shares of TOST traded up $0.10 during midday trading on Tuesday, hitting $36.81. 7,458,100 shares of the company traded hands, compared to its average volume of 11,559,328. The stock has a 50-day moving average of $30.66 and a 200-day moving average of $28.10. Toast, Inc. has a one year low of $22.26 and a one year high of $45.64. The firm has a market cap of $18.92 billion, a P/E ratio of 47.19 and a beta of 1.72.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.The company's quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. Sell-side analysts forecast that Toast, Inc. will post 1 EPS for the current fiscal year.

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. Morgan Stanley set a $45.00 price target on shares of Toast in a research report on Friday, May 8th. Sanford C. Bernstein increased their price objective on Toast from $39.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Royal Bank Of Canada lifted their price objective on Toast from $31.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Piper Sandler boosted their target price on Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group upgraded Toast from a "neutral" rating to a "buy" rating and set a $36.00 target price on the stock in a research note on Thursday, July 9th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted 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 in the last quarter. Cerity Partners LLC raised its holdings in shares of Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company's stock valued at $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp lifted its position in Toast by 2.7% in the 2nd 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 Toast in the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. boosted its stake in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company's stock worth $45,619,000 after buying an additional 203,404 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Company Profile

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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