Toast (NYSE:TOST) CRO Sells $469,669.20 in Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 14,280 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $32.89, for a total value of $469,669.20. Following the sale, the executive directly owned 69,966 shares of the company’s stock, valued at $2,301,181.74. The trade was a 16.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 NYSE TOST traded up $1.18 during mid-day trading on Tuesday, reaching $33.97. 16,880,754 shares of the company’s stock were exchanged, compared to its average volume of 11,800,417. The firm has a 50-day moving average price of $27.66 and a two-hundred day moving average price of $27.84. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 52.26 and a beta of 1.72. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings data 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 company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Toast had a return on equity of 20.86% and a net margin of 6.39%.The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. As a group, sell-side analysts forecast that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on TOST. Citigroup decreased their target price on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a report on Monday, June 1st. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, July 9th. Finally, Oppenheimer restated an “outperform” rating and set a $36.00 price target on shares of Toast in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.27.

Institutional Trading of Toast

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

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.