Insider Selling: Toast (NYSE:TOST) CRO Sells $399,775.85 in Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 13,465 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.69, for a total value of $399,775.85. Following the completion of the transaction, the executive directly owned 77,424 shares in the company, valued at approximately $2,298,718.56. This represents a 14.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, October 5th, Jonathan Vassil sold 7,623 shares of Toast stock. The stock was sold at an average price of $30.19, for a total value of $230,138.37.
• On Wednesday, September 2nd, Jonathan Vassil sold 14,280 shares of Toast stock. The shares were 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 transaction 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 transaction 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 transaction 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 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.

Toast Trading Up 1.1%

Shares of TOST opened at $30.59 on Thursday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $39.72. The firm’s 50 day moving average is $32.96 and its 200-day moving average is $29.01. The stock has a market capitalization of $15.72 billion, a PE ratio of 39.22 and a beta of 1.74.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Equities research analysts predict that Toast, Inc. will post 1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bayban acquired a new stake in shares of Toast in the 4th quarter valued at $25,000. SHP Wealth Management bought a new position in shares of Toast in the 4th quarter valued at $29,000. Ancora Advisors LLC acquired a new position in shares of Toast during the 2nd quarter worth $31,000. Montag A & Associates Inc. raised its holdings in shares of Toast by 172.0% during the 1st quarter. Montag A & Associates Inc. now owns 1,455 shares of the company’s stock worth $39,000 after buying an additional 920 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its position in shares of Toast by 213.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,568 shares of the company’s stock worth $44,000 after buying an additional 1,068 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TOST shares. Piper Sandler upped their target price on Toast from $32.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, July 9th. Truist Financial boosted their price target on Toast from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, DA Davidson upped their price objective on shares of Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.